《大行報告》建銀國際降安踏(02020.HK)目標價至101元 增長步入正軌評級「跑贏大市」
建銀國際發表報告指,安踏(02020.HK)上季表現大致上符合預期,其中安踏、FILA及其他品牌零售增長分別錄得高雙位數、25%至30%、及55%至60%,受惠線下流量持續改善、品牌強勁、產品組合改變及上年同期基數低等因素,認為增長步入正軌。
該行預料,2024財年集團銷售呈穩健銷售勢頭,因消費情緒持續改善,估計2024財年安踏、FILA及其他品牌分別錄得10%、15%及28%收入增長,而銷售較高和庫存漸變健康均令2024財年利潤率較佳。
該行將公司在2023財年及2024財年的盈利預測分別上調3%及1%,反映上季表現穩健,估計23/24財年盈利增長29%及21%。考慮到市場憂慮宏觀經濟疲弱及中國令人不安的消費模式,因此將目標價由108元下調至101元,此外該行著眼於集團旗下Amer Sports在美國IPO的可能性,評級維持「跑贏大市」。(ca/k)
~
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.