大行评级|麦格理:上调新秀丽目标价至14港元 但指下半年需求仍具挑战

格隆汇
Aug 14

麦格理发表研究报告指,新秀丽次季收入按年跌4.8%,经调整EBITDA跌18.1%,均符合该行预期。虽然管理层预期第三季销售将有所改善,但认为消费情绪疲弱令前景仍不明朗。为应付关税影响,公司在北美市场加价,并会根据新增关税而进一步调价。另外,公司会预先采购该市场库存,同时与供应商协商以缓解汇率影响。中期将透过重新设计产品以控制成本。为反映严控经营开支的成效,该行将2025至27年净利预测分别上调2.1%、3.7%及1.8%。目标价由13.3港元上调至14港元,维持“中性”评级,认为公司下半年需求仍具挑战。

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