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《大行》花旗降海底撈(06862.HK)目標價至18.5元 下半年銷售有望復甦
花旗發表研報指出,海底撈(06862.HK)致力於探索新的收入來源,包括通過外送業務進軍快餐市場及創新店舖形式以適應「新消費場景」,預計其下半年銷售將復甦。 花旗表示,在主要外送平台的補貼戰中,預計更多中國休閒餐飲領軍企業將加速通過外送業務進軍快餐市場(提供單人份快餐),從百勝中國(09987.HK)(YUMC.US)搶奪市場份額。 花旗將海底撈今明兩年淨利潤預測分別下調19%、18%,反映銷售下調9%、8%(因今年上半年堂食業務疲弱)。基於12倍2025財年企業價值/調整後EBITDA,將目標價從24.2港元下調至18.5港元,維持「買入」評級。
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