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《大行報告》里昂升歐舒丹(00973.HK)目標價至25元 上調盈測
阿思達克 01-31 10:53
里昂發表研究報告指,歐舒丹(00973.HK)第三季度整體銷售增長勝於預期。Sol de Janerio及Elemis的銷售額分別增長214%和18%,而Loccitane en Provence的銷售額仍然不理想。2024財年全年銷售指引上調至按年增長20%以上,而營運利潤率指引則維持不變。公司預計其2024至2026財年的銷售額複合年增長率將在低至中單位數水平。 該行維持對公司2026財年銷售額30億歐元和營運利潤率約13%的預測基本不變,意味着2024至26財年的銷售額及淨利潤複合年增長率分別爲10%和22%。公司公佈業績後,該行將其2024至2026財年的銷售額預測小幅提高1%,淨利潤預測微升2%-5%,以反映高利潤率的業務有較快增長,目標價由21.4元上調至25元,並維持「跑贏大市」評級。
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