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大行評級丨瑞銀:下調創科實業目標價至120港元 下調2025至27年盈利預測
格隆匯 05-23 10:59

瑞銀研究報吿指,創科實業旗下兩大客户家得寶及勞氏公司今年首季的銷售都錄得按年下跌,主要因DIY業務承壓。雖然兩間公司都重申原有指引,預期收入及銷售可錄得正增長,但該行認為不可以忽視美關税增加令需求下滑的潛在風險,而創科實業目前有多過40%的美國電力用品是來自中國。

展望將來,該行對創科實業仍持有非常正面態度,相信是次關税政策可能是潛在的機會,讓其市場份額加速增長。該行將創科2025、2026及2027年每股盈利預測分別下調8%、6%及6%,以反映DIY業務前景較弱,以及關税可能對利潤率有輕微影響,因而將目標價由132港元降至120港元,維持“買入”評級。

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