大行評級|花旗:對老鋪黃金啓動30天上行催化劑觀察 目標價爲1084港元
花旗發表研究報告指,近期檢查了老鋪黃金天貓店和北京SKP店的銷售表現,估算兩者合計貢獻老鋪約40%的收入,並認爲它們是表現最佳的渠道,因爲促銷力度高於其他渠道。花旗預計老鋪黃金今年上半年收入將增長198%達105億元,淨利潤將增長260%達21億元。對於2025年及26年全年,花旗預計淨利潤將分別增長220%和37%,達47.27億元和64.59億元。該行表示,經過上週股價調整後,該股目前以預測今明兩年市盈率分別30倍及22倍交易,對該股維持“買入”評級,並啓動30天上行催化劑觀察,目標價定爲1084港元。花旗指,鑑於其快速增長前景,受益於強勁的產品競爭力和黃金價格上漲,認爲老鋪黃應享有較全球奢侈品同行更高的估值溢價。
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