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研報掘金|國泰君安:維持周大福“增持”評級 目標價20.25港元
國泰君安發佈研究報吿,維持對周大福的“增持”評級,目標價為20.25港元;預計2024-26財年歸母淨利潤為80.62/95.87/111.84億港元,對應EPS分別為0.81/0.96/1.12港元。公司FY2024Q2經營業績符合預期,採取保守的拓店策略聚焦高質量發展。該行指,考慮到FY2024H1受益終端折扣管控,產品結構優化及費用管控,疊加金價上行提振毛利率,核心經營利潤率有望超預期。
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