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《大行》中銀降安踏(02020.HK)目標價至113.5元 消費信心疲弱更值得憂慮
阿思達克 09-24 16:22
中銀國際研究報告指,雖然安踏體育(02020.HK)旗下品牌Amer最近發佈了樂觀的第三季度展望,但始祖鳥品牌在西藏發起的一項營銷活動引發爭議,已引起市場對集團整體銷售表現的審視和擔憂。 該行認為,事件確實可能對始祖鳥在中國的銷售產生一定影響,但影響範圍或不如2021年外國品牌因新疆棉事件遭遇抵制時般廣泛,或對集團銷售造成實質性打擊。 相比之下,該行認為對於安踏而言,更實際的擔憂可能是消費者信心疲弱這一行業性問題,以及由此導致的競爭加劇。儘管發生爭議事件,該行仍將安踏視為運動服飾行業的首選公司,因為其多品牌策略,如Descente可能帶來回報;目標價降至113.5元,評級「買入」。(ss/u) ~
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