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《大行報告》大摩降李寧(02331.HK)目標價至30元 評級「增持」
阿思達克 02-08 12:13
摩根士丹利發表報告指,市場對李寧(02331.HK)的情緒正在改善,認為該股將現「U型」復甦,雖然上半年的數據疲弱,但下半年將會扳回,最壞情況已經過去,業務狀況改善將會吸引更多長期投資者。 該行指,李寧股價由1月低位回升25%,相信其基本因素改善,但股價復甦需要時間,不會在未來幾個月直線向上。估計首季零售表現疲弱,上半年核心經營溢利仍然下跌,但在批發渠道復甦及低基數效應下,下半年將會強勁回升。該行認為,在公布首季營運數據後加注,將可避免波動風險。 因應消費市道疲弱,該行將2023至2025年的盈利預測下調17%至26%,目標價由51元下調至30元,評級「增持」。
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