大行評級|星展:上調高鑫零售目標價至1.46港元 評級升至“持有”
星展發表研究報吿指,高鑫零售不斷將超大型超市改造為線下體驗中心和在線銷售中心。因應市場競爭,集團進一步擴大會員規模。為了吸引更多客户,產品範圍更加廣泛,4月至5月同店銷售增長1.6%。今年,其門市關閉的影響可能會有所緩解,雖然市場競爭在短期內仍然激烈,但管理層強調關注同店銷售增長。該行憧憬其業務將逐漸復甦。星展表示,高鑫零售的自有品牌產品及產品組合改善應會支持毛利率擴張。不過,在自有品牌和海外供應鏈方面要趕上全球同業仍然需時。該行上調其2025及26財年的盈測27%和5%,又將其評級升至“持有”,目標價由1.15港元上調至1.46港元。
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