大行評級 | 花旗:料申洲利潤率將重返擴張軌道 升目標115港元
格隆匯12月7日丨花旗發表研報指,正對申洲國際(2313.HK)開展90日正面催化觀察,基於Nike最新的季報可能反映在北美的庫存持續下降,而申洲將於3月公佈業績;相信申洲的利潤率將回歸擴張軌道,由於盈利風險降低,將目標價由96港元調升19.8%至115港元,評級維持“買入”。
報吿指,申洲國際在美國、歐盟及中國市場的庫存過剩問題仍是拖累,但已開始看到曙光,鑑於第四季度的銷售似乎是今年表現最差的一個季度,申洲國際可能會從2023年第二季度開始恢復銷售正增長。隨着內地放寬防控政策,意味着2020-22年間因疫情導致的停產威脅將會結束。
報吿又稱,股市近期反彈,申洲國際股價自10月底的低位回升逾40%,但在正面的催化劑下仍將有足夠的上行空間。

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