《 大行報告》美銀證券下調周大福(01929.HK)目標價至9.2元 評級「買入」
美銀證券發表報告表示,周大福(01929.HK)今年首兩個月內地及港澳市場同店銷售分別下跌49%及59%,以此估計其內地業務同店銷售於1月及2月分別跌15%及85%,而港澳市場則是分別跌40%及80%。該行認為,上述經營數據不感到意外,主因是反映新型肺炎疫情下令部分店舖暫停營業、縮短營業時間及限制購物活動等因素。報告補充,隨內地疫情逐步穩定下來,預期周大福會有更多分店陸續重新營業,相信3月之後同店銷售跌幅會有所收窄。該行下調周大福2020至2021財年每股盈利預測27%及68%,以反映疫情對銷售的打擊,同時估計其2021財年第一季度/第二季度,內地及香港的同店銷售將按年下降70%/25%,到2021財年下半年才在低基數下重拾升軌。該行將其目標價相應由10.2元降至9.2元,重申「買入」評級。
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