大摩:首予日清(1475.HK)“增持”評級 大眾消費復升支撐即食麪行業增長
摩根士丹利發表研究報告指,在中國即食麪和飲料股中,推薦在高端市場有穩健地位、渠道能力強並能緊跟優質化趨勢的品牌,上調康師傅控股(0322.HK)投資評級至“增持”,首予日清食品(1475.HK)“增持”評級,維持統一企業中國(0220.HK)“減持”評級,首次覆蓋維他奶國際(0345.HK),並給予“與大市同步”評級。
大摩續指,方便麪股比飲料股更好,因大眾消費的復升和優質化的趨勢將支撐方便麪行業增長,且大廠商將在競爭中獲得較高市佔率,並獲得規模優勢。而飲料行業則會面臨更大內部競爭,產品週期短,而且還面臨來自較具規模咖啡茶連鎖店的競爭。
大摩預計,康師傅控股在即食麪市場的佔有率會進一步增長,效率亦會有所提升。
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