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大行評級|大摩:上調泡泡瑪特目標價至135港元 上調2024至26財年經調整盈測
格隆匯 03-10 16:24

摩根士丹利發表研報,將泡泡瑪特的目標價由113港元上調至135港元,重申“增持”評級,主要由於對公司2024至2026財年的經調整每股盈利預測分別上調7%、19%及21%,至於2025財年市盈率預測維持35倍不變。

大摩預計,泡泡瑪特2024財年銷售額將翻倍,2024財年第四季按年加速增長約135%。至於2025財年,預計泡泡瑪特銷售額增長47%(中國市場增長27%,海外市場增長77%);2025財年第一季銷售額可能增長超過100%,因爲數個月前推出的許多熱門產品,儘管自2024財年第四季末以來補貨更加積極,仍迅速售罄。大摩亦預期,泡泡瑪特經調整淨利潤將由2024財年約32億元,增長52%至2025財年約48億元。另外,該行亦預計泡泡瑪特2024財年的經調整淨利潤率爲25.4%;至於2025財年則預測爲26.3%。

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