《大行報告》大和升周大福(01929.HK)目標價至8.5元評級「買入」
大和發表報告指,周大福(01929.HK)公布截至今年3月底止財年業績,收入按年上升12.7%至667億元,純利則按年增長11.8%至46億元,而全年派息比率由139%進一步提升至142%。
該行引述周大福管理層指,今年4月及5月內地同店銷售有逾10%增長,主要受金飾類產品增長近20%,及珠寶類產品增長高單位數所推動。至於香港同店銷售則有中單位數下跌,即使珠寶類產品表現有改善。另外,管理層在2020財年的目標為香港及澳門同店銷售錄低單位數增長,內地同店銷售則錄中單位數增長。
大和上調周大福股份目標價,由7.5元升至8.5元,評級維持「買入」。此外,又上調集團2020及2021財年的純利預測8%至10%,以反映同店銷售估算提高,及於內地開設更多零售點。
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