花旗发表研究报告指,近期检查了老铺黄金天猫店和北京SKP店的销售表现,估算两者合计贡献老铺约40%的收入,并认为它们是表现最佳的渠道,因为促销力度高于其他渠道。花旗预计老铺黄金今年上半年收入将增长198%达105亿元,净利润将增长260%达21亿元。对于2025年及26年全年,花旗预计净利润将分别增长220%和37%,达47.27亿元和64.59亿元。 该行表示,经过上周股价调整后,该股目前以预测今明两年市盈率分别30倍及22倍交易,对该股维持“买入”评级,并启动30天上行催化剂观察,目标价定为1084港元。花旗指,鉴于其快速增长前景,受益于强劲的产品竞争力和黄金价格上涨,认为老铺黄应享有较全球奢侈品同行更高的估值溢价。
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