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《大行報告》大和下調周大福(01929.HK)目標價至17.4元 評級「買入」
阿思達克 07-11 10:47
大和發表研究報告指出,周大福(01929.HK)2024財年首季整體零售價值按年增長29%,當中內地增長25%,港澳增長64%;內地同店銷售按年增長8.5%,港澳同店銷售升64%。季內公司淨增85個零售點網絡。 該行認為,雖然周大福2024財年第二季或面臨具有挑戰性的比較基數,且市場可能會對管理層仍然謹慎的態度以及重申其對2024財年保守的同店銷售增長指引感到失望,但該行維持對公司2024財年前景及長期市場份額增長潛力穩健的看法,尤其是預期被壓抑的需求將於2024財年下半年釋放。 此外,該行將周大福2024至2026財年每股盈利預測下調0.2%至3.2%,以反映更加審慎的零售點網絡擴張,以及產品結構轉變。對公司目標價由18元下調至17.4元,重申「買入」評級。
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