《大行報告》瑞銀料明年內地體育用品行業強勁復甦 首選李寧(02331.HK)
瑞銀發表報告指,市場近期憂慮內地體育用品行業的庫存及折扣問題,預期國際品牌積極提供折扣的情況可於9月持續改善,令內地本土品牌的庫存壓力逐步舒緩,並於今年底回復至正常水平。
該行認為,市場未反映在封城的低基數下,行業明年會有強勁復甦,加上折扣正常化及棉花價格回落,將轉化成強勁的銷售及毛利擴張。
瑞銀相信,首間解決庫存過剩問題的企業,將能夠提供新產品推動銷售增長及跑贏同業。行業首選為李寧(02331.HK),因集團擁有最健康的庫存水平和嚴格的營運管理,對其股份評級為「買入」,目標價維持87元。至於安踏(02020.HK)目標價由114元下調至112元,滔博(06110.HK)目標價由8.3元降至8.2元,兩企評級均為「買入」。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.