《大行》野村:特步(01368.HK)加大Saucony營銷及研發投入 或拖累下半年經營利潤率
野村發表研究報告指,特步國際(01368.HK)旗下專業運動品牌Saucony上半年經營利潤率好過預期,成爲公司中期業績主要亮點,惟上半年持續經營業務收入達68億元人民幣,低於市場預期的76億元人民幣。
野村預期特步將加大Saucony的營銷及研發投入並加速開店,或對下半年經營利潤率帶來影響,因此僅輕微上調Saucony全年經營利潤率預測0.2個百分點。野村認爲特步現價估值仍具吸引力,維持「買入」評級,並將目標價從7.9元上調至8.2元。
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