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《大行報告》瑞銀下調特步(01368.HK)目標價至12.7元 評級「買入」
阿思達克 10-19 09:55
瑞銀發表報告指,特步(01368.HK)第三季銷售符合預期,管理層維持全年特步品牌銷售按年增長25%至30%指引,運動休閒品牌按年增長30%,以及合資公司(專業運動品牌)潛在的更大增長,而之前的指引是按年增長60至70%。管理層預計由於自9月以來銷售趨勢和消費者情緒弱於預期,經銷商可能會調整訂單。 報告指,維持特步「買入」評級,惟將其2022至2024年度每股盈利預測下調3%至8%,目標價由14元降至12.7元,以反映庫存清理帶來的利潤率影響,與恢復馬拉松比賽後更高的廣告及宣傳支出,以及明年更謹慎的需求和人民幣貶值影響等因素。
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