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《大行》匯豐研究首予古茗(01364.HK)「買入」評級 目標價32元
阿思達克 06-26 10:20
匯豐研究發表報告指,在年輕人、產品創新和市場滲透的推動下,中國的現製茶飲行業正蓬勃發展,惟流失率高,進入門檻和存活率亦較低。據計算,古茗(01364.HK)的市場份額爲8.7%,並專注於新鮮水果茶類別和建立自己的供應鏈,以在中價市場突圍而出。 該行預期古茗今年將淨增加2,500間店鋪,高於管理層指引的2,000間,並料將在2027年達到16,726間店。該行又預計,公司2024至27年間的淨利潤年複合增長率爲22.8%,而收入年複合增長率則超過20.1%。 該行予古茗目標價32.2元,首予其「買入」評級,認爲相對於公司的短期和長期增長狀況,其目前的估值具吸引力。
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