《大行報告》野村降海底撈(06862.HK)、百勝中國(09987.HK)及九毛九(09922.HK)目標價 料今年盈利續受壓
野村發表報告,下調對海底撈(06862.HK)、百勝中國(09987.HK)及九毛九(09922.HK)目標價。該行表明對內地復甦趨勢看法愈來愈保守,海底撈仍為該行行業覆蓋股份中短期首選,認為該股短期所受壓力較輕,基於公司在冬季旺季錄得正面的經營指標。
該行指,餐飲業消費情緒去年第四季疲軟情況可能延續至今年首季,基於持續推廣環境及高基數效應,該行覆蓋股份的盈利率在今年或持續受壓。基於更保守的銷售復甦趨勢假設,下調有關企業2023年至2025年收入預測最多9%,並下調今明兩年淨利潤率假設最多2個百分點。
該行認為投資者短期對內地餐飲股的投資情緒仍然低迷,該行繼續偏好展示更精簡及靈活業務模式,以及近期營運數據潛在上升的股份。下表為該行對上述股份最新投資評級及目標價:
股份│投資評級│目標價
海底撈(06862.HK)│買入│21.4元->20.5元
百勝中國(09987.HK)│買入│487.5元->436元
九毛九(09922.HK)│買入│14.8元->8.7元
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