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大行評級|交銀國際:重申安踏“買入”評級 為今年消費行業的整體首選股

交銀國際發表報吿指,安踏去年銷售額和淨利潤按年分別增長16.2%和34.9%;淨利潤超出市場和該行預期。去年下半年,銷售額的按年增長從上半年的14%加速至18%,毛利率擴大3.4個百分點。交銀國際指,雖然今年首季基數較高,安踏和FILA在首季銷售增長仍處於其全年銷售指引(按年增長10至15%)範圍內。由於門店開張指引僅為按年增長1至2%,今年10至15%的銷售額增長將主要來自單店銷售額增長。今年更好的商品推出和新的店鋪業態可能有助於推動更高的銷售額。巴黎奧運也將為中國奧委會贊助商安踏提供充足宣傳。交銀國際重申對安踏“買入”評級,是該行今年消費行業的整體首選股,目標價上調至135港元。

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