《大行報告》瑞銀下調九毛九(09922.HK)目標價至15.8元 評級「買入」
瑞銀發表報告指,九毛九(09922.HK)宣布以1.99億人民幣收購太二餐飲3.24%股權。交易完成後,公司於太二餐飲持股將由88%增加至91.24%。另外,集團亦公布將以最高總金額1.5億港元於公開市場回購股份。
該行認為,此次對太二餐飲的增持,可讓集團分享更多餐廳利潤,並透過允許將太二股份貨幣化來激勵太二的員工。該行表示,考慮到九毛九自9月、國慶假期、及當前促銷環境所反映的較預期弱的同店銷售增長趨勢,下調其2023至25年的每股盈測介乎3%至6%。該行看好九毛九,認為其具有強勁的增長勢頭,並受到多品牌能力和成本控制措施的支持,又預期公司的股票回購計劃將短期支撐其股價。該行將公司目標價由17.5港元下調至15.8港元,評級「買入」。
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