周大福创建维持跑赢行业评级，升目标价至11.41港元

中金公司2025-04-25

一、核心观点与评级调整中金公司在最新研报中维持了对周大福(01929)的“跑赢行业”评级，并将目标价上调46%至11.41港元。这一调整主要基于行业销售好转带来的估值提升，同时考虑了金价快速上涨对周大福黄金套保业务的影响。中金公司认为，周大福在未来的财务表现中仍具备较强的竞争力。二、盈利预测与估值分析中金公司下调了周大福FY25的EPS预测7%至0.54港币，但维持FY26的EPS预测为0.76...

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