《大行报告》瑞银上调滔搏(06110.HK)目标价至15.63元 评级「买入」
瑞银发表研究报告指,与滔搏(06110.HK)管理层洽谈後,认为目前销售情况已自新疆棉花事件中恢复,4月份销售表现已达到2019年同期相若水平,在折扣幅度正常化下毛利率得以改善。该行指出,营销开支控制得宜下,预期利润的增幅将超越收入。
瑞银指,滔搏库存维持健康水平,通过与品牌O2O共享存货,未来未见再减少库存的需要。
管理层仍维持对2022财年的盈利增长目标,并计划在上海建设新设计中心,预期未来大中华区业务将独立於亚太区市场。瑞银将目标价由15.18元轻微上调至15.63元,维持「买入」评级。
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