麦格理：上调普拉达目标价至88港元

Core Viewpoint - Macquarie report indicates that Prada's retail sales in Q4 last year increased by 18% year-on-year, exceeding expectations, primarily driven by Miu Miu brand sales growth of 84% and Prada brand sales growth rising from 1.7% in Q3 to 4% in Q4 [1] Group 1: Sales Performance - Miu Miu brand sales grew by 84% year-on-year [1] - Prada brand sales growth improved from 1.7% in Q3 to 4% in Q4 [1] - Retail sales in Japan, Europe, and Asia-Pacific markets continued to grow, while the Chinese market shifted from low single-digit decline in Q3 to low single-digit growth [1] Group 2: Financial Metrics - Operating profit margin increased to 24.4% [1] - Capital expenditure for the year is set to increase to €550 million [1] Group 3: Strategic Outlook - The company is satisfied with the performance in the first two months of the current fiscal year and is confident in outperforming peers [1] - The company is considering strategic acquisitions but did not mention acquiring Versace [1] Group 4: Analyst Ratings - Macquarie raised Prada's net profit forecasts for the next two years and increased the target price to HK$88, maintaining an "outperform" rating [1]