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《大行》花旗:百勝中國(YUM.US)次季業績大致符預期 評級「買入」
花旗發表研究報告指,百勝中國(09987.HK)(YUM.US)第二季核心淨利潤按年增1%,每股盈利升5%,大致符合預期。一如市場預期,在各電商平臺大打補貼戰之際,集團次季強勁的外賣銷售增長令其同店銷售於季內回升。 該行指出,百勝中國受惠於正面的營運槓桿,餐廳利潤率按年增長60個基點至16.1%,而經營利潤率則增長100個基點至10.9%。自集團將今年的資本開支指引削減1億美元後,預計股東回報涉及12億美元以上。該行予集團美股目標價53.1美元,評級「買入」。
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