《大行》摩通降Lululemon(LULU.US)目標價至303美元 維持「增持」評級
摩根大通發表研究報告指,Lululemon(LULU.US)今年4月底止首財季每股盈利錄2.6美元,符合市場預期,並高於管理層介乎2.53至2.58美元的指引,期內收入按年增長7.3%,亦高於市場預期的7%及管理層指引的6%至7%,毛利率擴張至58.3%,對比市場預測為57.8%。
管理層預告,第二財季迄今而言,美國業務收入增長趨勢與第一財季相若,惟首席執行官則認為美國消費者目前仍持審慎態度。摩通相應將Lululemon 2025及2026財年每股盈測分別下調至14.75及16.2美元,對比市場預期為14.88及16.1美元,維持「增持」評級,目標價由原先389美元下調至303美元。
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