瑞银发表报告指，毛戈平(01318.HK) 去年业绩大致符合预期，并指最近与投资者的交流中发现市场忧虑公司近期的销售增长展望，尤其是在护肤品销售增长在去年下半年大幅减慢。公司管理层重申其销售及盈利在2024年至2026年间年均复合增长率30%的目标，主要推动因素包括产品及品类的加强、网上渠道扩张以及品牌形象改善。
该行将今明两年的盈利预测下调3%至5%，主要是因为下调了护肤品销售预测5%至10%，以及下调了毛利预测0.4个百分点。该行在预期短期盈利增长展望稳健的同时，对长期增长展望持审慎态度。该行将目标价由82元上升至93.6元，此按现金流折现率作估值，维持“中性”评级，并指公司目前以今明两年预测市盈率36倍及29倍水平交易，估值仍属偏高。(vc/w)(港股报价延迟最少十五分钟。)
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