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里昂:上調安踏(2020.HK)及裕元(0551.HK)評級至“跑贏大市”
格隆匯 09-25 13:24

里昂發表報告表示,據該行企業及渠道瞭解到,內地整體消費與今年上半年大致相近,當中體育用品及B2B廚房電器的上漲空間令人驚訝,而香港的零售壓力則較預期大。該行於內需行業的喜好為,體育用品>免税消費>酒店>代工生產>電器>珠寶及零售。里昂將安踏(02020.HK)及裕元(00551.HK)評級由“跑輸大市”升至“跑贏大市”

該行解釋,看好內地體育用品的前景,且看到行業於今年第三季有健康暢銷率及零售折扣趨勢。至於即使酒店的基本面仍然疲弱,而且估值略高,但該行對酒店市場的看法轉趨向好。不過對家電保持謹慎,尤其是個別類別庫存的問題;同時亦對中港零售及珠寶行業維持審慎。

里昂指,偏好於第三季業務增長加快的股份,如李寧(02331.HK);持續有業務交付的股份,如申洲(02313.HK) ,均予“買入”評級。

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