招商证券国际：首予老铺黄金(06181)“减持”评级料收入大幅放缓盈利质量恶化

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智通财经APP获悉，招商证券国际发布研报称，预期老铺黄金(06181)2026年将出现转折，收入增长将由2025年的220%大幅回落至2026年预期的约30%。该行首予老铺黄金“减持”评级，目标价825.5港元，认为2026年18倍市盈率过高，一旦黄金情绪降温，都将带来明显不对称的下行风险，现予16倍市盈率估值。该行认为公司营收目前主要依赖FOMO营销抢购，即消费者害怕错过机会、折扣或热门产品的...

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招商证券国际：首予老铺黄金(06181)“减持”评级 料收入大幅放缓盈利质量恶化

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招商证券国际：首予老铺黄金(06181)“减持”评级料收入大幅放缓盈利质量恶化