大行评级|大摩:下调普拉达目标价至62港元 第二季业绩逊预期

金融界
31 Jul
摩根士丹利发表研究报告指,受到跨境旅客奢侈品消费放缓影响,普拉达第二季业绩逊预期,按固定汇率计算销售额按年增长6.1%,对比首季为12.5%及市场预期为9%。期内Prada与Miu Miu品牌收入均略低于预期,虽然同店销售增长约9%,但似乎缺乏经营杠杆,导致上半年经调整EBIT较预期低3.1%。 大摩认为,国际旅游负面影响将在夏季达到高峰,第三季销售预测可能下调,目前最新预测按固定汇率增长8.3%,此前预测为10.4%。大摩预期普拉达的股价或面临压力,将目标价从66港元降至62港元,仍维持“增持”评级,续列行业首选,指出集团第二季在奢侈品行业中仍属表现优异,依然看好Prada与Miu Miu品牌吸引力与未来增长动能。

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