《大行》花旗微降裕元(00551.HK)目標價至16.3元 偏好九興(01836.HK)
花旗發表研究報告指,由於裕元集團(00551.HK)零售利潤收縮,加上製造業務的毛利擴張速度較預期緩慢,因此將其2025至27年的盈利預測下調9%至10%,並延展估值基礎,以預測明年市盈率8倍計,目標價由16.5元微降至16.3元,維持「買入」評級。
不過,該行表示,裕元集團製造業務的毛利在今年次季開始持續改善。雖然美國實施關稅措施,次季製造業務盈利仍按年急升42.7%至9,100萬美元,預計該股今年股息率爲9至10%。
該行指出,在內地中型收益股中偏好九興控股(01836.HK),其後依次爲晶苑國際(02232.HK)、裕元,最後爲偉易達(00303.HK)。
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