智通财经APP获悉，瑞银发布研报称，新秀丽(01910)第三季度经调整EBITDA同比跌8%至1.43亿美元，符合该行预期的1.39亿美元，EBITDA利润率16.3%，对比该行预测的16.1%。净销售增长显著放缓，按固定汇率计同比跌1%，较第二季的同比跌6%收窄，部分受惠于低基数。该行又指，新秀丽以预测市盈率10.2倍作交易，仍较历史平均值低1.3个标准差。该行目前检讨对新秀丽的投资评级及目标价，此前为“中性”及目标价17.4港元。
该行指，管理层称收入正面动力持续至10月，并预期第四季净销售增长于高基数下进一步改善，毛利率维持稳定的59.6%水平，受惠产品组合转向Tumi及直销渠道，以及纾缓美国关税影响的有效措施。管理层因应市场情况，有意明年完成双重上市。该行料市场对公司第四季销售增长展望胜预期，以及管理层维持盈利率信心作出正面反应。
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