《大行報告》野村升安踏(02020.HK)目標價至123.1元 為行業首選
野村發表評級報告指,內地體育服裝行業長遠將保持強勁增長,但明年市場競爭或會增加;今年體育服裝銷售復甦趨勢不穩定,其中主要品牌過去數個季度出現波動。體育服裝市場持續推出促銷活動,庫存水平稍微略高;即使短期不穩定,該行繼續相信整體體育服裝行業的表現仍超過其他主要消費子產業,並重申對體育服裝行業長遠發展持樂觀態度,受惠於體育參與率不斷增長。
至於2024年,該行相信,體育服裝行業競爭保持激烈,消費降級的跡象正在顯現,內地本土公司積極尋求新的增長機會,尤其是在低線城市,而國際品牌復甦亦帶動競爭。
該行認為,安踏(02020.HK)的品牌多元策略,有助爭取市場份額,維持其評級為「買入」,並視為行業首選,目標價由120元上調至123.1元。(ca/cy)
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