姆巴佩受伤加上增长放缓,杰富瑞继续看空昂跑

智通财经
Sep 29
【姆巴佩受伤加上增长放缓,杰富瑞继续看空昂跑】杰富瑞在姆巴佩穿着昂跑原型足球鞋比赛时膝部受伤后,维持昂跑“跑输大盘”评级和20美元目标价。姆巴佩本月刚与昂跑签约成为全球品牌大使及股权合作伙伴,但目前没有医学证据表明此次伤病与球鞋有关。杰富瑞认为,公司更值得关注的问题仍是增长放缓:过去六个季度整体营收增速已由36%降至13%,美洲业务增速仅4%,批发渠道增速为5%,同时库存增速约为销售增速的两倍。该机构指出,在增长动能减弱之际,公司进军足球还将增加运动员签约、市场推广和产品投入成本,因此认为这一扩张更像是为支撑新设定的长期增长目标,而非建立在已经验证的产品优势之上。杰富瑞对昂跑2027年EBITDA的预测也明显低于市场共识。

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