大和:升康師傅(0322.HK)至“優於大市”評級 目標價上調至15.6港元
大和研報指,在武漢肺炎疫情爆發期間,主要消費必需品在今年料可取得更高的利潤收入,故將康師傅(0322.HK)投資評級由“持有”上調至“優於大市”,目標價亦由13.2港元元,上調至15.6港元。
該行認為,在一眾必需品中,方便麪需求最具彈性,因為消費者將減少外出及傾向在家用餐。其次為低利潤基礎,尤其是面類在今年首季較少“減價戰”的情況下,其產品價格及銷量正逐漸回升。另外,公司收購少數飲品業務的股權交易已於去年12月完成,預期今年收入可升5%,並上調公司今、明兩年每股盈利預測4%。
又指,康師傅管理層去年純利原目標為按年增5%至10%,但估計公司或會上調去年純利預測指引,因為去年第四季其麵類業務市佔率有所提升。該行預期,康師傅去年純利可按年增長15%。

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