大行評級|傑富瑞:予泡泡瑪特目標價39.3港元 預計次季銷售額增長40%
傑富瑞發表研報指,鑑於泡泡瑪特旗下知識產權(IP)持續受到歡迎,預計今年第二季度銷售額將按年增40%,中國及海外銷售額將分別增長22%及174%。該行亦維持泡泡瑪特今年上半年40億元的銷售預測,料今年第二季度銷售仍有上升潛力。同時假設今年上半年經調整淨利潤率將達20%,營運利潤率將按年增3.3個百分點,股權激勵將為4400萬港元。
另外,該行預期泡泡瑪特管理層將提升其2024財年銷售指引,亦有機會重新檢視其中期調整。該行預計公司2024至2026財年的銷售增長率,將分別為39%、27%、22%;2026財年的淨利潤率及經調整淨利潤率,將分別為20%及21%。該行將泡泡瑪特目標價定於39.3港元,並予“買入”評級。
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