大行评级丨美银:下调名创优品H股目标价至24.2港元,海外业务复苏需时

格隆汇
Aug 31
美银证券发表研报指,名创优品上半年收入及经调整纯利分别同比增长22%及下跌2%,期内中国业务增长较预期强期,但被海外业务疲弱所抵销。管理层透露,关闭表现不佳门店、去库存、门店升级、产品组合调整等海外市场业务调整,今年内仍然持续,甚至可能延续至明年。美银将2026及2027年非国际财务报告准则每股盈利预测分别下调20%及16%,美股目标价由17.5美元下调至12.4美元,H股目标价由34.2港元下调至24.2港元,维持“中性”评级。该行认为,名创股价年初至今已累计调整40%,目前估值并不昂贵,股东回报率预料达约6%,惟短期盈利风险仍然存在。

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