花旗发布研报称,维持周大福(01929)“买入”评级,目标价9.9港元,并对其展开30天正面催化观察。该行称周大福固定价格黄金产品的收入规模和利润状况与老铺黄金(06181)相匹配,但市值较老铺黄金滞后13%,这意味着周大福其他业务估值需要重估。
花旗指出,周大福今年1月和2月同店销售跌幅已持续收窄,预计后续同店销售趋势在3月的低基数效应下可能回稳。由于黄金价格从高位回落,预期以重量为基础的黄金首饰产品的潜在需求将被释放。另外,虽然预期净关闭店铺的趋势将在2026财政年度持续,但料不会成为新的负面因素。
责任编辑:史丽君
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