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《大行報告》瑞銀削高鑫零售(06808.HK)目標價至2.3元 短期盈利受供應鏈業務規模縮減及競爭加劇拖累
阿思達克 11-08 09:36
瑞銀發表報告指,高鑫零售(06808.HK)短期盈利表現,將受供應鏈業務規模縮減及競爭加劇拖累,公司預計截至9月底止中期虧損淨額介乎3.7億至3.8億人民幣,高過該行預期的1.8億元人民幣,現時該行估計2024年度全年錄得淨虧損,並將2025年及2026年度的每股盈利預測分別下調43%及37%,目標價相應由4.55元下調至2.3元,主要因為公司削減供應鏈業務規模,集中於直接銷售業務;今年線下人流復甦情況差過預期;以及自8月以來市場競爭轉趨激烈。 該行指,仍然維持其「買入」評級,主要因為公司在雜貨零售行業具領導地位,網上策略具強勁執行能力,以營運效益改善,對公司長期盈利增長潛力維持正面,短期的潛在催化劑包括下半年度同店銷售跌幅收窄,以及開設更多會員店舖。
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