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《大行報告》瑞銀上調特步(01368.HK)目標價至12.5元 評級「買入」
阿思達克 04-12 09:51
瑞銀發表研究報告指,特步國際(01368.HK)的特步主品牌銷售於今年首季按年增20%,符該行預期。管理層對特步主品牌作出指引,料今年零售額增長25%以上。隨著分銷商增加補貨訂單,管理層還將上半年的主品牌收入按年增長指引上調至介乎5%到10%,並可能在勞動節後重新審視此前10%至20%的全年收入增長。 該行將集團2023至25財年的每股盈測上調1%,目標價由12.3元升至12.5元,維持「買入」評級。儘管上半年的盈利增長將受到其分銷業務模式的限制,但該行認為,集團首季勝於同業的零售銷售增長,將成為其改善庫存水平和下半年收入增長加快的領先指標。
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