《大行報告》富瑞:周大福(01929.HK)董事陳世昌辭任令市場驚訝 料集團中期目標無大改變
富瑞發表評級報告指,周大福(01929.HK)董事陳世昌辭任令市場感到驚訝,但預料對集團提高其毛利率的中期目標沒有大改變。但該行認為其內地同店銷售趨勢仍有不確定性,料今年1月至2月中期間,內地同店銷售跌幅按季有所收窄。
該行相信,其股價在短期內對內地同店銷量較為敏感,令集團近期表現較同業疲弱;而基於每店銷量下跌,亦令市場擔憂其經營去槓桿。
該行予其目標價18元,維持「買入」評級,並相信按照集團提出2024年起的指引,透過折扣將有效地提高其利潤率。(ca/s)
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