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《大行報告》摩通削創科(00669.HK)目標價至127元 評級「增持」
摩根大通發表報告指,創科實業(00669.HK)同業史丹利百得(SWK.US)的盈利表現持續遜預期,加上前景展望大幅下調,導致其股價急跌15%。 該行表示,與史丹利百得相比,創科實業在美國住宅市場業務的比例小很多,僅約佔總銷售額的10%,而對方有關市場佔其工具及戶外業務板塊收入達52%。雖然預期創科亦會受到DIY需求降溫的影響,但料其於未來數個季度跑贏同業的優勢將會擴大。 考慮到史丹利百得的表現,摩通下調創科實業旗下品牌「RYOBI」及地板護理業務的收入及毛利假設,以致平均盈利下降7%。至於股份目標價亦下調至127元,評級維持「增持」。
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