《大行》野村降名創優品(MNSO.US)目標價至22.5美元 首季盈利遜預期
野村研究報告指,名創優品(09896.HK)(MNSO.US)首季經調整盈利按年跌4%至5.87億元人民幣,較該行預期低8%,主要因經營利潤率按年跌4個百分點。管理層指會重新審視對2025財年經調整盈利增長較24財年高的指引,反映集團盈利能力進一步受壓。雖然該行對名創優品以IP高性價比產品推動銷售的策略仍然有信心,但預計業務在未來幾個季度都不會轉勢;將美股目標價由23.2美元下調至22.5美元,因估值不高,重申「買入」評級,又將2025至27財年的銷售額及盈利預測分別下調2%至3%,以及3%至6%。
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