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大行評級丨中銀國際:上調周大福目標價至11.2港元 3月銷售明顯改善爲積極訊號
中銀國際發表研報指,周大福今年3月底止2025財年四季營運指標繼續承壓,集團零售流水按年下降11.6%,而整體門店數目爲6643家,錄得高於預期的406家淨關店。該行表示,公司3月銷售明顯改善,視爲積極的訊號,另預期美國總統特朗普第二任執政將促使金價走高,並刺激中國消費者購買更多黃金。此外,周大福珠寶也能較好把握最新的消費趨勢,推廣更多定價黃金產品,此舉有助穩定利潤率。該行預期公司在目前的方向下,能在2026財年取得更好的表現,並有助公司估值重構。該行上調對其評級,由“持有”升至“買入”,目標價由6.8港元升至11.2港元。
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