《大行報告》里昂降安踏(02020.HK)評級至「跑贏大市」 目標價上調至122元
里昂發表報告指,安踏(02020.HK)去年第四季零售銷售因內地新冠防控及放寬防控後感染上升而按年下跌,相信疲弱情況大致符合市場預期。該行亦指,安踏及FILA品牌庫存未回復正常水平,但FILA在穩定折扣水平下銷售按季改善值得留意,新年假期銷售明顯反彈為良好的開始,但更應關注第二季及往後庫存情況。
該行按內地新冠防控快速改變帶來的影響調整業績預測,基於更高市盈率及盈利預測,把目標價由101元上調至122元,但基於去年11月以來已升53%,股價上望空間收窄,投資評級由「買入」降至「跑贏大市」。
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