《大行報告》中銀國際上調周大福(01929.HK)目標價至15.3元 第三財季同店銷售增長強勁
中銀國際發表研究報告指,周大福(01929.HK)第三財季的零售額按年增長46%,內地的同店銷售增長22.7%,數據令人鼓舞,反映集團有效捕捉高低線城市消費者需求,表現優於同行。該行認為,集團業務持續改善,管理層維持2024財年的指引,是暗示業務繼續溫和增長,雖然宏觀經濟方面的訊號好壞參半,但相信是一個正面訊號。該行重申「買入」評級,目標價由15.1元上調至15.3元。
該行表示,雖然目前預測農曆新年期間的銷售情況為時過早,但周大福管理層預計,由於市場對其新產品系列需求良好,料強勁增長勢頭將會持續。同時,該行指,雖然經濟數據疲弱,但1月跨境旅客量仍然強勁,料港澳地區的總零售銷貨價值(RSV)勢頭將保持強勁。
報告提到,集團維持2024財年的指引,包括內地同店銷售按年增長中單位數、核心營運利潤率擴大50至80個基點、及淨增設零售點300至400個。該行相信集團可以達成相關目標,且認為重申指引是正面訊號,料2024財年淨利潤按年升38%。
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