大行評級|星展:下調呷哺呷哺目標價至1.8港元 下調2024年盈測26%
星展發表研究報吿指,呷哺呷哺截至去年年底共有1,098間門市,並計劃日後加速門市擴張步伐以實現各地區成長,當中包括拓展香港、台北、新加坡、馬來西亞等海外地區市場。該行亦預期呷哺呷哺及旗下高端品牌湊湊,今年的銷售年複合增長率將分別為6%及9%。星展亦指,在消費需求疲弱的情況下,呷哺呷哺放慢門市擴張步伐。而且公司仍專注於有效的成本控制措施,包括縮小旗下商店規模以降低租金成本和投資支出。加上公司目標透過建立會員計劃,以增加旗下品牌組合的交叉銷售。
星展將呷哺呷哺2024年盈測下調26%,目標價相應由4.2港元下調至1.8港元,維持“持有”評級。另外,該行表示呷哺呷哺的業績表現增長,仍受旗下品牌湊湊表現不佳所影響。因此湊湊同店銷售趨勢若有任何正面改善,甚或勝於預期的門市擴張計劃均會利好公司股價。
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