《大行報告》瑞銀下調中國中免(01880.HK)目標價至238元 評級「買入」
瑞銀發表研報指,考慮到海南消費市場氣氛疲弱,以及線上業務存在利潤率壓力,因此將中國中免(01880.HK)2023至2025年每股盈利預測下調27%至29%,目標價亦從291元下調至238元。該行預測中免今年首季盈利按年跌幅將介乎3%至10%,線上業務營銷開支增加所拖累,淨利潤率預期亦錄得下降。
不過瑞銀仍重申「買入」評級,表示隨著線上銷售折扣減少,利潤率有望回升,加上內地居民出境遊對海南銷售的分流影響或少過市場預期,預測下半年經濟復甦的同時海南人均消費將逐步改善。
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