大行評級|大摩:上調創科實業目標價至124港元 預計今年毛利率繼續擴大
摩根士丹利發表報告指,創科實業預計今年銷售額將實現中到高單位數增長,其中Milwaukee繼續以雙位數增長,Ryobi則實現單位數增長。公司對歐洲市場增長潛力亦持樂觀態度,目標實現持續雙位數增長。該行預計公司今年銷售按年升8%,其中電力設備業務增長9%,而地板護理業務增長持平;今年毛利率和營運利潤率將分別擴大至40.8%及9.1%,按年擴大51及56個基點,淨利潤在2025年至2027年期間的年複合增長率爲19%。該行指,創科今年股價表現落後,反映市場對科技股的更好情緒,認爲是好的買入點,因該股目前僅爲預測市盈率19.1倍。該行予創科“增持”評級,目標價由116港元上調至124港元。
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