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《大行報告》高盛下調申洲(02313.HK)目標價至160元 評級「買入」
阿思達克 03-03 09:28
高盛發表研究報告,指出申洲國際(02313.HK)發盈警預期去年稅後純利按年跌31%至39%,至介乎31億至35億元人民幣(下同),較該行預期的42億元低18%至27%。反映公司去年下半年純利預測為8.74億至12.74億元,較該行預測的20.23億元低出37%至57%。 該行最新對申洲去年純利預測為33.68億元,認為越南的封城和營運環境變幻無常,導致公司成本高過預期。另將其2022至2023財年的純利預測下調8%至10%,以反映更保守的利潤率預測。而對其去年毛利率預測為24.6%,今年料改善至28%,但仍低過2020年的31.2%水平。不過,越南封城的超過兩個月,應會很大程度拖累去年利潤,並應在今年有所改善。 高盛指出,申洲今年迄今股價累跌約18%,並較去年高位下跌約40%。將其目標價由175元下調至160元,維持「買入」評級。
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