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研報掘金丨太平洋證券:予海瀾之家“買入”評級,城市奧萊項目穩步推進
格隆匯 02-12 16:01

太平洋證券研報指出,海瀾之家(600398.SH)攜手打造京東奧萊新業態,加深高質價比、折扣零售業態的佈局。京東奧萊是由四方合力打造的輕資產模式,壁壘深厚,渠道更爲下沉,若模式得以跑通,未來有望實現快速複製。公司作爲休閒男裝龍頭企業,主業持續穩健,海外拓展有序,FCC項目快速成長、有望釋放利潤增量,城市奧萊項目穩步推進,輕資產模式跑通後有望快速複製,打造第二增長曲線。預計公司2024-26年歸母淨利潤分別爲22.2/26.4/30.6億元,對應PE 分別爲17/14/12,給予“買入”評級。

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