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《大行報告》大和上調申洲(02313.HK)目標價至110元 評級「買入」
阿思達克 11-09 10:14
大和發表報告指,申洲(02313.HK)於昨日參加了該行會議。與近期市場對訂單放緩和毛利率復甦的擔憂不同,該行認爲申洲第四季銷售增長將保持強勁,中國工廠產能利用率已接近90%,預期將令集團第四季毛利率達約27%。 展望明年,大和預計國際運動服裝客戶訂單的恢復將推動申洲銷量增長約13%,總生產潛力將進一步擴大,到明年第四季毛利率達到29%。該行重申申洲「買入」評級。目標價由100元升至110元,相當於預測市盈率25倍(爲過去三年平均)。
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