You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行報告》摩通降特步(01368.HK)目標價至4.2元 上季業績符預期
阿思達克 01-10 09:54
摩根大通發表研究報告指,特步(01368.HK)去年第四季零售銷售按年增長30%以上,全年增長20%以上,渠道存貨周轉由第三季的4.5至5個月下降至4至4.5個月的健康水平,惟零售折扣率提升至約30%,表現符合預期。 摩通預測特步去年全年銷售額及淨利潤將分別按年增長10%及11%,當中下半年銷售額增幅由上半年的15%減慢至約7%,主要由於國內零售市道淡靜、公司尚處於去庫存階段,以及雙十一期間核心品牌特步電商表現弱於預期所致。 該行預測,在補貼及折扣率正常化下,特步去年淨利潤率將按年升0.1個百分點至7.2%,維持2023年盈利預測,同時將2024至2025年預測下調5%至6%,目標價由6.4元降至4.2元,維持「中性」評級,直至見到線上銷售業績及利潤率有具體改善,且庫存水平穩固,才會重新審視其評級。
Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of this article is for reference only. It does not constitute an offer, solicitation, recommendation, opinion or guarantee of any securities, financial products or instruments.The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance.
uSMART
Wealth Growth Made Easy
Open Account