大和报告指，创科(00669.HK) 管理层对Milwaukee和Ryobi品牌今明两年增长动力、小型品牌盈利能力改善以迅速的生产布局以纾缓美国关税风险充满信心。
该行指，公司2017至2024年EBIT率稳定在8.6%至9.1%，相信今年至2027年EBIT率可扩大，因其释放销售及行政杠杆潜力。该行又指，公司今年至2027年自由现金流料每年逾10亿美元，管理层计划提高派息率、执行股份回购及寻找潜在并购机会。报告亦引述管理层称，所有美国市场采购将于今年迁离中国，预期美国对中国20%额外关税及对墨西哥25%额外关税影响极微。
基于盈利增长加快及现金流显著改善，该行重新对该股“买入”评级，目标价由127元上调至145元。该行亦上调对公司今明两年盈利预测0.2%至1.3%。(fc/w)(港股报价延迟最少十五分钟。沽空资料截至 2025-03-05 16:25。)
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