招商证券发表研究报告指，百胜中国(09987.HK) (YUMC.US) 旗下肯德基和必胜客的同店销售增长有所改善，利润率亦录得扩张，但整体销售额仍低于预期，拖累了首季表现。不过，管理层相信，随着未来数个季度加快新增门市，全年财务目标仍有望实现。
该行考虑到百胜中国全年持续稳健的净开店数量，及必胜客重新定位大众市场，料复苏客流量的潜在回升，将成为集团的主要利好因素。此外，集团的资本报酬率达10%，因此维持“增持”评级。该行将集团2025至2027年的销售预测平均下调3%，以反映首季的实际表现，目标价由474元降至445元。(sl/w)(港股报价延迟最少十五分钟。沽空资料截至 2025-05-06 16:25。) (美股为即时串流报价； OTC市场股票除外，资料延迟最少15分钟。)
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