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《大行報告》匯豐研究升普拉達(01913.HK)目標價至75元 面臨行業逆風仍繼續前進
阿思達克 03-19 10:17
匯豐研究發表報告指,普拉達(01913.HK)2023年銷售額及息稅前利潤均超出市場預期,管理層並透露今年首兩個月銷售額增長速度延續去年第四季趨勢,意味介乎13%至17%。 該行預測,集團今年旗下品牌Miu Miu及Prada的固定匯率銷售額將分別增長25%和9.5%,跑贏行業約7%的增長率,另外亦憧憬公司利潤率持續擴張,跑贏一衆奢侈品同業,認爲息稅前利潤率的增長主要由銷售密度所驅動。 匯豐研究預料普拉達在行業逆風下表現仍然向好,該行對其2025年息稅前利潤較市場預期高出11%,相信今年起集團銷售額增長將超越同業,估計按固定匯率計算今年銷售額將增長11.4%至52.2億歐元,明年及2026年則增長至57億及61.6億歐元,目標價由61港元相應上調至75港元,維持「買入」評級。
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