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大行評級|花旗:上調普拉達目標價至65.5港元 維持“中性”評級
花旗發佈研究報吿稱,由於歐洲及日本零售業強於預期及Miu Miu的強勁增長,帶動普拉達2024年首季的銷售額高過預期約2%,故上調對公司預測,目標價由62.5港元升至65.5港元,維持“中性”評級。報吿中稱,4月零售走勢與2024年首季一致,該行因Miu Miu零售假設較高,將2024財年集團營收增長預測,按固定恢率計上調13%,並維持25財年大致不變。加上外匯不利因素的減少,這推動了公司2024財年及2025年集團收入約3%的升幅。該行表示,上調公司今明兩財年的毛利率預測,同比分別升20個及10個基點至80.6%及80.7%,主因渠道組合改善及2024及2025財年營運支出分別升11%及6%,這將導致2024財年及2025財年的息税前利潤和每股盈利預測約4%的升幅。鑑於在2021年11月提出的中期目標已在2023年實現,該行預計今年稍後將會有策略或財務更新。此外,雙重上市“已提上議程,但不是優先事項”。
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