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大行評級|招銀國際:下調新秀麗目標價至28港元 對下半年消費需求的看法較保守
格隆匯 08-19 10:50
招銀國際發表報吿指,由於中國及北美消費者需求疲弱,加上印度市場競爭加劇,新秀麗第二季業績低過市場預期,淨銷售額按年跌1.7%,按固定匯率計算則升1.6%。在渠道和產品組合優化的支持下,毛利率維持在60%的高水平,經調整淨利潤按年降3.4%。公司下調全財年營收指引,但維持利潤率預期。招銀國際下調對新秀麗盈利預測,以反映對今年下半年消費需求較保守的看法,維持“買入”評級,目標價由30.6港元下調至28港元,相當於預測2024年市盈率16倍。
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