《大行报告》大和升周大福(01929.HK)目标价至8.5元评级「买入」
大和发表报告指,周大福(01929.HK)公布截至今年3月底止财年业绩,收入按年上升12.7%至667亿元,纯利则按年增长11.8%至46亿元,而全年派息比率由139%进一步提升至142%。
该行引述周大福管理层指,今年4月及5月内地同店销售有逾10%增长,主要受金饰类产品增长近20%,及珠宝类产品增长高单位数所推动。至於香港同店销售则有中单位数下跌,即使珠宝类产品表现有改善。另外,管理层在2020财年的目标为香港及澳门同店销售录低单位数增长,内地同店销售则录中单位数增长。
大和上调周大福股份目标价,由7.5元升至8.5元,评级维持「买入」。此外,又上调集团2020及2021财年的纯利预测8%至10%,以反映同店销售估算提高,及於内地开设更多零售点。
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