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李寧(02331.HK)挫9%及安踏創半年低 遭美銀削價
美銀證券預計內地體育用品股第三季增速將會放緩,相關股今天普遍跑輸大市,尤其是遭美銀大幅削價的藍籌李寧(02331.HK)低見76.85元,創逾兩個月低,現報78.2元,下挫9%,爲最傷藍籌;同遭美銀大幅削價的藍籌安踏(02020.HK)低見129.9元,創半年低,現報131.2元,跌2.5%。 特步國際(01368.HK)低見9.7元,回補6月15日部分上升裂口(9.12-9.88元),現報9.73元,跌6.4%。361度(01361.HK)失守20天及10天線(3.81元及3.73元),最低見3.69元,跌4.9%。 美銀證券預計,國產體育用品品牌第三季增速按季放緩,但認爲較弱表現只屬短期性,不會影響到長期投資主題。報告指,安踏及李寧股價自7月以來累跌26%及9%,主因是擔憂來自於近期零售銷售增長放緩。該行預計安踏品牌第三季增速將由次季35%-40%,放緩至僅增約15%,Fila增幅亦料放緩至15%以下;料李寧第三季增速將由次季增長90%,放緩至約35%-40%。此外,該行認爲新疆棉花事件對內地品牌的利好因素正逐漸消退,雖然目前增速仍高於國際品牌,但差距已收窄,加上9月天氣偏暖,影響秋季服裝銷售,故將體品股未來三年每股盈測下調。同時,安踏及李寧目標價分別由210元及105.5元,大幅下調至183.5元及101.8元,維持「買入」評級。
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