摩根士丹利发表报告，预期普拉达(01913.HK) 将跑赢大市，但下调对Prada品牌的预估，并预计Miu Miu至今强劲的销售表现将放缓。
该行对集团次季度内生销售增长预测由11.2%下调至9.3%，反映近期渠道调查显示的略微疲软宏观环境及旅游消费减弱，但仍预期两品牌(Prada及Miu Miu)销售动能将持续。虽然今年店面扩张或在增长扮演更大角色，但仍估计增长主要由可比销售驱动，证明其品牌高度吸引力。
该行降普拉达销售增长预测，料其今年按固定汇率计销售额将增长10.9%(原先料11.9%)，每股盈利增长8.7%，且处于净现金状态。目前该股现价相当于预测今年市盈率16.1倍，计及Versace收购影响则相当于预测明年市盈率15.9倍，估值仍具吸引力。该行对普拉达目标价从70元下调至66元，维持“增持”评级。(fc/da)(港股报价延迟最少十五分钟。沽空资料截至 2025-06-24 16:25。)
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