《大行報告》麥格理下調滔博(06110.HK)目標價至7.8元 評級「跑贏大市」
麥格理發表報告指,考慮滔博(06110.HK)線下人流恢復較預期慢,加上內地持續的防疫限制,下調其銷售展望,並將其2023及2024財年盈利預測下調各13%,股份目標價由8.5元降至7.8元,評級維持「跑贏大市」。
不過,該行仍預期滔博於2023財年下半年的表現會有改善,並估計其可透過持續改善效率,將毛利率的波動最小化。另一方面,因國際品牌開始加強市場推廣,相信銷售會逐步復甦,產生的自由現金流料可容許集團繼續其派息政策。
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