大行高喊星巴克可抄底
美東時間10月28日美股盤後,星巴克(SBUX.US)公佈了2021財年第四季度及全年業績。由於該公司給出了低於市場預期的2022財年業績,數家投行下調了對該股的目標價。
財報顯示,星巴克Q4營收81.47億美元,同比增長31.3%,低於市場預期的82.1億美元;淨利潤17.64億美元,同比增長349.4%;攤薄後每股收益爲1.49美元,同比增長0.33%。
對於2022財年,星巴克預計,其GAAP每股收益將下降4%,調整後的每股收益將至少增長10%;預計2022財年的利潤率爲17%,並在2023財年增長到18%-19%。此外,星巴克預計預計2022財年全球同店銷售額高單位數增長,淨銷售額爲325億至330億美元。
以下是星巴克公佈財報後部分投行觀點:
富國銀行分析師Jon Tower維持星巴克“增持”評級,目標價由135美元下調至122美元。分析師認爲,星巴克擁有巨大的定價能力,並得以最終收回成本;此外,在更爲廣泛的行業挑戰面前,該公司在服務和客流量上的差異化將使其具有強大的品牌效應。不過,分析師指出,由於該公司對2022財年的業績指引未達市場預期,該股股價近期或將承壓。
Baird分析師David Tarantino維持星巴克“強於大盤”評級,目標價由144美元下調至128美元。分析師表示,由於在員工工資和人才投資上的支出會給利潤率帶來壓力,該公司給出的2022財年盈利預期不及市場預期,這令人感到失望,對該股的看法也逐漸轉向消極。
BMO Capital維持星巴克“強於大盤”評級,目標價由140美元下調至135美元。分析師表示,該公司在此前宣佈將在2022年至少兩次提高其美國咖啡師的工資,這將在2022財年進一步使利潤率承壓。分析師補充稱,雖然疫情暫時打壓了該公司的銷售趨勢,不過第四季度的業績還是證明瞭該公司的盈利潛力是“被低估了”。
Wedbush分析師Nick Setyan維持星巴克“強於大盤”評級,目標價由132美元下調至128美元。分析師表示,該公司四季度每股收益略有增長,而由於勞動力成本和通脹的影響,其2022財年利潤率指引遠低於預期。該分析師將他對該公司2022財年每股收益的預期由3.61美元下調至3.41美元,以反映該公司下一財年的利潤率預期。
巴克萊分析師Jeffrey Bernstein維持星巴克“增持”評級,目標價由135美元下調至128美元。分析師認爲,星巴克第四季度業績“喜憂參半”,雖然各項指標均遜於預期,但仍能實現盈利。分析師表示,從長期投資者和成長股投資者的角度來看,該股股價疲軟之際提供了一個良好的買入機會。
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