---
title: "《大行》瑞银降滔搏目标价至 3.85 元  续予「买入」评级"
description: "瑞银发表研究报告，下调滔搏目标价至 3.85 元，维持「买入」评级。报告指出，滔搏第三财季零售及批发业务总销售额按年录得高单位数跌幅，逊于预期。瑞银下调滔搏 2026 至 28 财年净利润预测 7% 至 14%，以反映销售压力。"
type: "news"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/270562939.md"
published_at: "2025-12-23T02:52:31.000Z"
---

# 《大行》瑞银降滔搏目标价至 3.85 元  续予「买入」评级

> 瑞银发表研究报告，下调滔搏目标价至 3.85 元，维持「买入」评级。报告指出，滔搏第三财季零售及批发业务总销售额按年录得高单位数跌幅，逊于预期。瑞银下调滔搏 2026 至 28 财年净利润预测 7% 至 14%，以反映销售压力。

瑞银发表研究报告指，滔搏 (06110.HK) 第三财季的零售及批发业务之总销售金额按年录得高单位数跌幅，逊於预期。期内，零售业务表现优於批发业务，线上业务表现持续胜於线下业务，但与 2026 年上半财年相比，两者差距因基数效应而收窄。

该行下调滔搏 2026 至 28 财年的净利润预测 7% 至 14%，以反映公司的销售压力，目标价由 4.06 元降至 3.85 元，维持「买入」评级。

### Related Stocks

- [06110.HK - 滔搏](https://longbridge.com/zh-CN/quote/06110.HK.md)

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