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《大行報告》高盛降特步國際(01368.HK)目標價至6.6元 尋求高質量增長
阿思達克 03-19 10:53
高盛發表報告指,特步國際(01368.HK)2023年下半年的營運溢利比該行預期低4%,主要由於營運支出高於預期,惟被產品組合和其他補貼推動毛利率擴張所部分抵銷。不過,公司2023年下半年的淨利潤較該行預測高5%,主要由於聯營公司收益高於預期,以及稅率低於預期所影響。 高盛亦引述特步管理層,指引集團今年層面銷售額成長不低於10%。以品牌分類的話,管理層預計特步核心品牌今年增長近10%,亦預計索康尼(Saucony)及邁樂(Merrell)將實現30%至40%的強勁增長。考慮公司尋求高質量增長,高盛維持予其「買入」評級,目標價則下調至6.6元,。
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