《大行報告》摩通降創科(00669.HK)評級至「中性」 目標價下調至88元
摩通發表研究報告指出,創科(00669.HK)中期業績遜預期,純利按年跌18%,主要受累於銷售費用和利息成本上升。公司意外下調下半年及中期展望,將旗艦品牌Milwaukee的2023至2026年收入按年增長指引下調至約8%至12%,相對於之前的年均複合增長逾20%。
該行認為,雖然創科下調前景反映宏觀環境充滿挑戰,管理層試圖引導增長步伐更加正常化,但因為市場重新對公司設定預期,該行料公司近期股價將出現負面影響。該行對公司2023至2025財年的稅後純利預測下調約20%,對公司目標價由128元下調至88元,評級由「增持」降至「中性」。
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