《大行報告》富瑞上調海底撈(06862.HK)目標價至22.2元 評級「持有」
富瑞發表評級報告,海底撈(06862.HK)管理層表示,近期翻檯率達4倍,有信心可回復至2019年4.8倍的水平。公司目標改善其舊店舖的效率;至於在2021年至22年的新店舖,公司目標提升每間店舖的銷售/翻檯率。該行指,公司未有提及下半年會否重啟開新店計劃,僅強調開店通常是採用由下而上的做法,並相信在二、三線城市有充足機會。
該行將公司今年、明年及2025年純利預測上調21%、11%及13%,主要反映毛利預測,以及其他收入和利息收入的假設,並將其目標價由21.1元上調至22.2元,維持「持有」評級。該行又指,下一個催化劑在於公司能否恢復開店步伐,而同時控制對利潤率的影響。(ca/u)
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