《大行報告》野村降特步(01368.HK)目標價至11元 重申「買入」
野村發表評級報告指,特步(01368.HK)次季業績表現不俗,惟促銷壓力或隨之而來。該行認為,公司次季業績總體上令人滿意,核心品牌零售額按年錄得穩定的高雙位數增長,並收窄了折扣水平;索康尼(Saucony)及邁樂(Merrell)上半年繼續保持快速增長,銷售按年翻倍及開設新店正按軌道而行。
該行指,即使近期消費者信心低迷,惟管理層仍對特步品牌的全年零售銷售增長按年升20%的指引有信心,並料全年收入按年升15%至20%。該行表示,關心公司下半年毛利率的潛在壓力,並將公司在2023年至25年純利預測下調4.2%至4.6%,並將其目標價由11.6元下調至11元,重申其評級為「買入」。
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