智通财经APP获悉，摩根士丹利发布研报称，维持波司登(03998)目标价5.8港元，评级为“增持”。该行认为，该股估值仍然被严重低估，股息率6%，盈利增长较为明显。
报告指，2026财年集团指引销售额增长10%以上，平均售价基本持平。旗舰产品如极寒系列和羽绒系列将继续优化产品组合，并开设多家旗舰店;主流细分市场将提供更多高性价比产品。预计上半年销售额将实现正增长，但增长速度可能低于下半年。报告指，踏入2026财年度以来，旗下其他品牌如Moose Knuckles销售同比增40%。
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