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研報掘金|中金:首次覆蓋毛戈平並予“跑贏行業”評級 看好其稀缺的品牌屬性
格隆匯 02-11 10:54

毛戈平獨家保薦人中金公司發表報吿,首次覆蓋毛戈平及給予“跑贏行業”評級,目標價83港元,對應2025年34倍市盈率,預計公司2024至2026年每股盈利分別為1.73/2.28/2.88元。中金看好毛戈平稀缺的品牌屬性和在國貨高端美粧市場的領導地位,經過二十多年厚積薄發已開啟快速成長期,中長期有望代表東方美學邁向國際市場,打開成長天花板。

該行認為毛戈平全品類均衡發展且均具備廣闊空間,其彩粧類目以底粧見長、以光影構建差異化,核心單品有待持續放量;護膚大單品打造方法論已逐步跑通,研發佈局持續強化,未來由面膜類周護產品向面霜、精華等日護產品延展,有望持續取得護膚市場廣闊機遇;香水香氛亦將落地並有望開闢新成長曲線。

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