《大行報告》富瑞下調九毛九(09922.HK)目標價至17.1元 評級「買入」
富瑞發表報告指,九毛九(09922.HK)上半年銷售額及純利,按年分別上升52%及285%,符合公司上月發出的盈喜,管理層維持全年指引,「太二」品牌開設120間新店、「慫」品牌開設約35間新店。
報告引述管理層指,上半年消費復甦較預期疲弱,購物商場的人流只是恢復至疫情前的70%至80%,旗下店舖仍具競爭力,7月份同店銷售恢復至疫情前約90%,下半年復甦情況仍需視乎整體經濟表現。
該行認為公司盈利保持復甦動力,在店舖層面的經營利潤率恢復至2021年上半年的水平,公司將會繼續聚焦於擴充店舖及改善營運效益。
富瑞將九毛九2024至2025年盈利預測下調2%,以反映銷售復甦較預期疲弱,維持「買入」評級,目標價由18元下調至17.1。
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