《大行報告》匯豐研究下調中國中免(01880.HK)目標價至209元 評級「買入」
匯豐研究發表報告指,中國中免(01880.HK)第三季線上業務的收入貢獻較高,主因疫情影響海南線下人流、以及其化妝品產品有較大折扣率,以拖累毛利率,以致公司其應佔淨利潤表現低於預期。
該行指,鑑於疫情下人流量恢復速度放緩、以及其網上業務有較高的依賴,預料中國中免第四季收入及毛利率承壓,故將今年公司收入及淨利潤預測下調9%及26%,同時亦將公司明年及2024年的純利預測分別下調18%及14%,以反映疫情的持續影響以及線下人流恢復速度較預期慢。
該行將其目標價由234元下調至209元,維持其評級為「買入」。(ca/k)
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