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《大行報告》大摩降百勝中國(YUMC.US)目標價至62美元 下調今年經常性每股盈測4%
摩根士丹利發表研究報告,將百勝中國(YUMC.US)2023年經常性每股盈利預測下調約4%,以反映第四季同店銷售按年增長4%(此前預測增長6%),或與2019年同期相比下跌15%,以及有效稅率假設提高1%的影響,同時亦將今年EBITDA預測下調2%。 另外基於較低的銷售基數及較高實際稅率預期,大摩亦將百勝中國2024及2025年每股盈利預測分別下調2%及1%至2.22美元及2.56美元,美股目標價從68美元下調至62美元。 該行指出,與其他新興市場相比,中國餐飲業滲透率仍然較低,特別是低線城市,預期該公司在中國仍有龐大發展空間,維持「增持」評級。
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