史丹利百得:SWK将更多地受益于降息

国泰君安国际研...
25 Oct 2024

国泰君安香港报告日期:2024/10/16摘要:我们首予“买入”评级,目标价为152.15美元,基于15.2倍的远期(2024年下半年和2025年上半年)企业价值/经调整息税前利润。我们对史丹利百得(或“公司”)的目标价基于企业价值/经调整息税前利润的相对估值法。虽然市盈率估值和企业价值/经调整息税前利润差异不大,但我们认为企业价值/经调整息税前利润指标更合适,因为公司目前拥有较高杠杆和利息支出。...

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