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《大行報告》中信証券上調特步(01368.HK)評級至「買入」 目標價12元
中信証券發表報告指,第四季疫情持續衝擊特步(01368.HK)零售表現,季內特步主品牌流水按年下滑高單位數,同時零售折扣及庫銷比水平按年和按季都受壓。今年1月以來零售流水快速復甦,參考春節前十五天銷售表現,其中前十日流水按年增長20%以上,折扣為7至75 折,按季改善。 中信証券指,短期而言,公司將借助銷售旺季積極進行庫存水平優化,計劃在6月底將庫銷比下降至5以下水平。長期看,公司主品牌升級及新品牌孵化的增長路徑延續,看好今年復甦,評級上調至「買入」,目標價12元。
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