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《大行報告》美銀證券上調百勝中國(09987.HK)目標價5%至560元 評級「買入」
美銀證券發表研究報告指,百勝中國(09987.HK)的第四季同店銷售為-4%,農曆新年同店銷售呈中單位數改善,較其他本土同業持平的表現為佳,但仍低於2019年水平,預期在3月低基數效應及宏觀經濟向好下,同店銷售會有進一步復甦。該行上調集團每股盈測並將目標價上調5%至560元。該行對集團持樂觀態度,前提是同店銷售可在重新開業後恢復、營運槓桿和新店的貢獻,為謹慎起見,其對集團的今年每股盈測仍低於市場預期。 該行預計,集團未來利潤率趨勢將高於2019年,但鑑於宏觀形勢的變化以及集團優先推動今年的銷售,目前難以準確估計近期利潤率。因此,預計集團今年有積極的風險回報,重申「買入」評級。
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