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大行評級丨麥格理:上調九興控股目標價至12港元 但維持“跑輸大市”評級
格隆匯 01-10 15:24
麥格理髮表研究報吿指,九興控股第四季貨運量按年升3%,惟由於不利的產品組合及原材料價格下跌,令均價下降3.1%,集團收入按年跌1.1%。報吿提到,九興管理層指出,由於奢侈品牌的訂單減弱及轉向較低均價產品,預計集團今年的銷量增長將達5%,而均價將跌1至2%,目標今年經營利潤率按年擴大。不過,麥格理對這個目標有所保留,因為新產能投產後需要一段爬坡期,才能達到全面的利用率,而且管理層預期工人的薪資將按年升逾5%。該行上調集團2024至25財年的淨利潤預測4.7%及8%,目標價上調9%,由11港元升至12港元,維持“跑輸大市”評級。
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