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《大行報告》大摩降滔搏(06110.HK)目標價至8.1元 反映淨利潤預測下調
阿思達克 12-18 10:18
大摩發表評級報告指,滔搏(06110.HK)截至11月止財季銷售增長低十位數,符合預期。高十位數零售渠道上升,意味著批發銷售錄得低十位數跌幅。該行指,集團或在2024財年上半年恢復淨開店,並於2025財年繼續擴張。 同時,該行相信,集團銷售於2024財年滯後,2025財年銷售增長很大程度上與領先國產品牌相符,這意味著當行業需求轉強,集團股票或會重估。 該行將集團在2024財年銷售預測下調4%,2025年及2026年則各下調6%,同時將2024年至26年毛利率預測上調0.8個百分點至1.5個百分點,而2024年至26年純利預測下調5%至6%。該行並將滔搏目標價由8.5元下調至8.1元,維持「增持」評級。(ca/u) ~
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