智通财经APP获悉，老铺黄金(06181)现涨超4%，截至发稿，涨3.9%，报693港元，成交额4亿港元。
消息面上，5月8日，老铺黄金以每股630港元配售431万股新H股，净募资26.98亿港元；6月28日，老铺黄金将迎来上市后最大规模限售股解禁，12名股东合计持有的14264.25万股股份（占总股本86.44%）将解禁。美银预期配股将强化老铺黄金的现金状况，该行将公司目标价由946元下调至932元，重申“中性”评级，相信集团可在高增长及合理估值之间取得平衡，并认为今年6月禁售期届满属短期风险。
浦银国际发布研报称，老铺未来三年收入规模持续扩张具有较高的确定性。基于该行对老铺黄金的盈利预测，老铺黄金目前交易在27x2025P/E以及19x2026P/E，相较于中国黄金珠宝品牌平均估值水平具有显著的溢价。这主要是由于老铺更高的增长潜力以及更强的盈利水平。如果以PEG作为参考指标的话，老铺的估值水平相较同业依然具有较高的性价比。该行认为，如果老铺黄金能够进一步验证其奢侈品品牌的定位，那么其估值水平有望在当前的基础上获得进一步提升。
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