研报掘金丨招商证券：升九毛九评级至买入，是布局高弹性复苏标的的优质切入点

格隆汇03-03

格隆汇3月3日｜招商证券国际发报告指，上调九毛九(9922.HK)评级由“持有”至“买入”，同时轻微上调目标价6%，由2.8港元升至3港元，仍有46.3%的上升空间。该行指，太二品牌顺利摆脱长达3年的下行周期，实现结构性重启，成为本次调升评级的核心逻辑。报告表示，九毛九2025年业绩一次性减记、门店升级改造顺利落地，为其2026年发展奠定全新基础。当前股价对应2027年中期预期市盈率仅11倍，处于...

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