《大行報告》摩通升百勝中國(YUMC.US)目標價至59美元 評級「增持」
摩根大通發表報告指,百勝中國(YUMC.US)第三季度調整後盈利較市場預期高。餐廳利潤率擴660個基點至18.8%,是至分拆以來表現第二佳的季度。該行表示,由於新冠疫情復甦,10月的人流管控措施收緊,料第四季的餐廳利潤率按年增1.3個百分點至8.8%,全年持平於13.7%的水平,而明年則料為15.3%。
該行提到,內地新冠疫情為整個餐飲業和消費行業不確定因素,預計集團第三季的業績進一步表達了其韌性、執行能力和可靠的管理團隊。集團仍然是該行談及中國通關時的首選股之一,維持其「增持」評級,目標價由56美元上調至59美元。
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