大行評級|大摩:李寧第三季營運表現符合預期 目標價為21港元
摩根士丹利發表報吿指出,李寧第三季營運表現符合預期,公司重申對全年收入及淨利潤率的預測。此外,公司於國慶假期的銷售持續改善,近期表現可能超出市場預期。公司正優化營運開支,致力於實現低雙位數的淨利潤率目標。
對於李寧宣佈成立海外新合資企業,該行認為市場需要時間消化,並預計合資企業對李寧2025至2026年的盈利影響有限,仍有待披露更多商業計劃的細節。該行對李寧的目標價為21港元,評級為“增持”。
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