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花旗康师傅(0322.HK)核心盈利逊预期维持“沽售”评级
格隆汇 08-27 14:27

花旗发表报告表示,康师傅(00322.HK)今年上半年撇除一次性收益後的核心盈利录低单位数字增长,低于该行原预期6%,主要是收入按年仅增长2%逊预期及毛利亦较预期差。

该行表示,康师傅虽然可受惠内地降低增值税,但因公司须面对去年进取性地将产品提价、渠道及品牌的因素影响,指市场对公司今年盈利复苏有较高预期,该行料相关憧憬将会落空。

花旗称,维持对康师傅“沽售”投资评级、目标价10.85港元,指公司管理层已下调对今年盈利目标指引,指今年收入增长5%存在挑战,并降低其今年资本开支目标至15亿至20亿人民币(此前为25亿人民币)。

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