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里昂:升敏华(1999.HK)目标价至7.6港元 评级“买入”
格隆汇 01-16 10:58

里昂发表研究报告,预期敏华(01999.HK)2020财年第三季的销售持续录得改善,中国销售主要是受到「双11」,以及可能是房地产完工量上升所推动。集团在上半财年受到关税上调的影响後,其北美洲的销售已恢复增长,而越南工厂产量增加有助减少关税的影响,并有可能获得更多美国订单。

以上的因素将有机会继续推动2021财年的销售增长,营运改善有助产生现金流,而这亦从公司最近的回购举动显示出来。有见公司的盈利复苏势头良好,该行维持“买入”投资评级,目标价由原来的6.9港元上调至7.6港元。

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