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《大行報告》中金上調普拉達(01913.HK)目標價至70元 評級「跑贏行業」
阿思達克 03-10 14:49
中金發表研究報告指出,普拉達(01913.HK)去年收入42億歐元,按年增長25%,以固定匯率計增長21%,較市場預期的40億歐元高出4%,主要受零售銷售好過預期所推動。由於產品均價提升,毛利率由2021年的75.7%,改善至去年的78.8%。期內EBIT按年增長59%至7.76億歐元,超過市場預期7.22億歐元7%。EBIT利潤率升至18.5%,相對於2021年為14.5%。純利按年增長58%至4.65億歐元,淨利潤率為11.1%。 該行認為,基於中國需求復甦的情況下,對普拉達今年收入預測上調10%至47億歐元,另上調EBIT及純利預測13%及3%,至9.71億及5.93億歐元,主要由於公司產品均價持續提升,以及經營槓桿。該行對普拉達明年收入預測51億歐元,EBIT預測為11億歐元,純利預測為6.85億歐元。維持對其「跑贏行業」評級,目標價上調25%至70元。
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