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《大行報告》大和上調百勝中國(09987.HK)目標價至593.5元 評級「買入」
大和發表研究報告指,百勝中國(09987.HK)(YUMC.US)今年首季業績表現強勁,收入創歷史新高,按年增長9%至28億美元,較市場預期超出4%,淨利潤達2.89億美元,更超出市場預期50%以上,整體餐廳利潤率為20.3%,是自2017年以來的新高。 報告指出,公司在疫情期間及疫後持續靈活調整發展戰略,以適應不斷變化的消費市場,管理層重申會優先考慮推動今年銷售復甦,維持全年淨增1,100至1,300家新店的目標。 大和指,雖然首季開業受到零星疫情及農曆新年因素影響,但五一黃金周期間需求旺盛,相信公司可依靠其領先數字化經營及執行能力繼續發展,將2023至2025年每股盈利預測上調3%至16%,重申「買入」評級,目標價由530.7元上調至593.5元。
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