瑞银升高鑫零售(6808.HK)目标价至10.08港元评级“买入”
瑞银发表研究报告指,高鑫零售(6808.HK)
上半年收入及息税前利润(EBIT)分别增0.6%及3.2%,达到543.96亿元人民币及30.14亿元人民币,受惠毛利率扩张,EBIT胜该行及市场预期。
上半年同店销售增长跌1.76%,是受到“
欧尚
”整合所影响,而“
大润发
”则维持正数。不过公司上半年已完成整合,故下半年整体同店销售增长料可转为正数。
该行将高鑫零售2019年至2021年每股盈本盈利预测调高4至17%,达0.29元人民币、0.33元人民币及0.37元人民币,主要受较高盈利能力的网上业务及租赁收入增长所推动,料盈利增长分别6%、15%及11%,至27.32亿元人民币、31.52亿元人民币及35.01亿元人民币。
该行将高鑫零售目标价由9.52港元升至10.08港元,维持评级“
买入
”。
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