---
title: "《大行》瑞银升滔搏目标价至 4.06 元  评级「买入」"
description: "瑞银将滔搏目标价上调至 4.06 港元，评级为「买入」。报告指出，滔搏 2026 财年上半年营收和净利润分别下降 6% 和 10%，但净利润好于市场预期。管理层维持全年净利持平的指引，聚焦提升营运效率。"
type: "news"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/262559132.md"
published_at: "2025-10-24T07:03:01.000Z"
---

# 《大行》瑞银升滔搏目标价至 4.06 元  评级「买入」

> 瑞银将滔搏目标价上调至 4.06 港元，评级为「买入」。报告指出，滔搏 2026 财年上半年营收和净利润分别下降 6% 和 10%，但净利润好于市场预期。管理层维持全年净利持平的指引，聚焦提升营运效率。

瑞银发表报告指，滔搏 (06110.HK) 2026 财年上半年营收和净利润按年分别下降 6% 和 10%，至 122.99 亿元和 7.89 亿元人民币。净利润符合该行预期，但好过市场预期的按年下降 16%，因营收轻微下滑被更高的

毛利率提升及财务支出减少所抵销。

报告指，滔搏管理层维持 2026 财年全年净利持平、净利润率改善的指引，并聚焦提升营运效率。该行将目标价由 3.55 港元上调至 4.06 港元，将 2026 至 2028 财年净利润预期上调 0 至 5%，以反映美国品牌合作夥伴的长期复苏前景。评级「买入」。

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