《大行報告》高盛上調李寧(02331.HK)目標價至58元 評級「買入」
高盛發表研究報告指,李寧(02331.HK)上半年業績勝預期,營運利潤率符合預期,純利則勝於預期。
報告提到,李寧維持全年的業績指引,而該行預計集團2023年全年及2023年下半年的銷售額分別按年增15%及17%,由於基數較低,料第四季的營收和利潤會較容易獲得理想表現。該行又認爲,電子商務渠道恢復增長、第二季收窄零售折扣及上半年嚴格的營運支出控制,可能會在當前充滿挑戰的市場下部分緩解市場對利潤方面的擔憂。另外,公司在產品組合開發方面取得良好進展,並推出更成熟的產品結構。該行亦認爲集團宣派中期股息是正面因素,有利於股東獲得更好的回報。
該行將集團2023至26年的淨利潤預測略微上調1%,以反映上半年盈利錄得改善,又將目標價由57元微升至58元,維持「買入」評級。
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