《大行報告》大和下調安踏(02020.HK)目標價至124元 評級「買入」
大和發表研究報告指,安踏(02020.HK)以發行價99.18元配售新股,募集資金淨額約120億元,籌集的資金將用於償還債務和擴展業務。配售完成後,安踏創始人丁氏家族的實際持股比例將從55%攤薄至52%。
報告提到,集團管理層維持其2023財年零售銷售價值(RSV)的指引,即安踏和FILA品牌按年增長雙位數,其他品牌增逾30%。第二季至今的業績表現強於首季。該行降集團2023至25年每股盈測1至2%,目標價相應由129元下調至124元,主要是考慮到配售的攤薄影響,而Amer Sports擬分拆上市將成為股價的額外催化劑,重申「買入」評級。
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