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《大行報告》高盛微降安踏(02020.HK)目標價至115元 評級「買入」
阿思達克 02-27 10:11
高盛發表報告,將安踏(02020.HK)2023至2026年淨利潤預測上調0%至4%。該行預計,公司去年將分別實現17%和32%的收入和淨利潤按年增長,相當於去年下半年分別實現19%和31%的收入和淨利潤按年增長。 高盛指注意到,由於安踏的一次性非經營性支出,聯營公司的虧損將會增加,預計虧損5.55億元人民幣,而核心盈利預計將按年增長39%至105億元人民幣。高盛重申對安踏「買入」評級,目標價由116元下調至115元。 高盛指,雖然今年消費增長放緩,但仍然認為盈利能見度相對較高,預計安踏的收入和淨利潤將分別實現13%和17%的按年增長。隨著行業增長前景的下調,對安踏的收入增長持謹慎樂觀態度,並預計安踏核心業務將在豐富產品的支持下實現13%的年增長率,Fila將實現9%的年增長率,其他品牌將在Descente/Kolon的強勁增長的推動下實現28%的年增長率。
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