《大行報告》瑞銀上調Nike(NKE.US)目標價至146美元 評級「買入」
瑞銀發表研究報告指,Nike(NKE.US)在產品創新、供應鏈速度和數字化方面的投資,或令其未來得到多年高於平均水平的增長,該行又相信公司擁有品牌實力、戰略、技能和資源,以令其在經濟衰退中超越同行。集團的2023財年次季的每股盈利勝預期,予「買入」評級,並屬明年首選股之列。該行認為,集團的每股盈利增長潛力比銷售方或市場預期大,目標價由141美元上調至146美元。
該行表示,對集團短期庫存感到積極,料將進一步提高股價。該行分別上調其2023至25財年各年盈測分別6%、5%,及4%。
報告稱,Nike毛利率有潛在重大上行空間,市場亦可能低估了中國重新開放的影響。在全面開放情境下,該行估算Nike銷售增長率高近40%。由於內地疫情具不確定性,該行估算模型未反映完全重新開放的情境,不過,一旦實現,或對Nike的2024財年每股盈測帶來近1美元的提振,或驅動實現牛市情境下的目標價221美元。
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