大行評級|大摩:上調李寧目標價至25港元 預期上半年經調整淨利潤增長約6%
摩根士丹利發表研報指,見到李寧盈利率復甦高可能性成爲未來數年主要盈利增長動力。該行在李寧近期股價上升後維持對該股“增持”評級,目標價由22港元上調至25港元。該行估算公司上半年經調整淨利潤爲21億元,高於報告的淨利潤,且有約6%增長。中期核心經營溢利勝預期反映廣告及推廣、員工及租金的更佳控制,該行料員工及租金成本比率將向下,部分基於公司早前主動關稅虧損門店。
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