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《大行報告》大和下調九毛九(09922.HK)目標價至15元 評級「跑贏大市」
阿思達克 08-24 09:27
大和發表研究報告指,九毛九(09922.HK)上半年收入及淨利潤符合早前發布的盈警公告,預測撇除匯兌損失和以權益結算的股份支付後,中期經調整淨利潤率達到10%。 大和指出,雖然太二及和九毛九兩大品牌的同店銷售復甦情況仍較疫情前及2021年的水平落後,但目前見到餐廳利潤率顯著改善,相信在很大程度上有助消除市場對產品平均售價下降會損害公司盈利能力的擔憂。 該行表示,看好九毛九在國內宏觀較疲軟的情況下,仍展示出較穩健的執行能力,考慮到其風險回報水平,維持「跑贏大市」評級,2023至2025年每股盈測上調8%至21%,目標價則從17.2元降至15元,以反映整個內地餐飲行業的下行趨勢。(gc/k) ~
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