研報掘金|招商證券:上調百勝中國目標價至474港元 上季同店銷售增長及利潤率優於預期
招商證券發表研究報吿指,百勝中國去年業績符預期,上季同店銷售增長及利潤率優於預期;另其店鋪擴張速度略快於預期,集團去年末季開設492間店鋪,正邁向2026年達到超過2萬店鋪的目標。該行指出,肯德基部分菜單調高價格後,對整體同店銷售增長並無顯著的負面影響,因此對肯德基在大眾市場的競爭力及整體經營利潤率保持信心。該行續表示,集團的股東回報方面,百勝中國除了擬於今明兩年向股東回饋30億美元,季度公司每股現金股息增加50%亦將是吸引投資者的亮點。該行維持集團“買入”評級,H股目標價由461港元上調至474港元,並繼續將集團列為在中國唯一推薦的餐飲業股。
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