《大行報告》匯豐研究下調安踏(02020.HK)目標價至159.8元 評級「買入」
匯豐研究發表報告指,安踏(02020.HK)公佈了第三季銷售情況,由於各種不利因素,Fila的按年增長由上半年的51%,放緩至5%。由於Fila的增長低於預期,導致安踏盈利能力下降,因此將2021年至2023年的利潤預測下調13%至17%。目標價亦由198.6元下調至159.8元,評級「買入」。
匯豐研究指,考慮到Fila品牌的增長疲軟,預計其下半年僅按年增長7%,2021年至2023年的年複合增長預測由25%降至21%。該行將安踏2021年、2022年、2023年的利潤預測分別調低13%、15%及17%;收入預測分別下調3%、7%及9%。
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