《大行報告》麥格理上調新秀麗(01910.HK)目標價至46.5元 評級「跑贏大市」
麥格理發表報告指,新秀麗(01910.HK)第三季度收入按年升21.1%,較該行預測高出0.9%,經調整EBITDA利潤率按年升3.3個百分點至20.3%,高於管理層目標的19%。毛利率高過目標的59.6%,主要受惠Tumi品牌及亞洲地區的高增長。
公司管理層預期第四季銷售有高十位數增長,略低於該行預測的23%,不過利潤率將會繼續改善。該行將今年至2025年三年期間的盈利預測,分別上調1.3%、5.4%及5.5%,反映經營利潤率較高及分銷成本比率較低,目標價上調6%至46.5元,維持評級為「跑贏大市」,為該行投資名單股份(Marquee Buy Idea)。(cy/w)
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