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匯豐研究:升統一(0220.HK)目標價至10.5港元 評級“買入”
格隆匯 02-12 13:45
匯豐環球研究發表報告指,內地爆發新型冠狀病毒肺炎疫情,由於民眾留家及避免外出用餐,即食麪及飲品需求有見增加。該行相信,必需品銷售受到疫情的影響相對較少,在2003年3月至6月的非典型肺炎期間,生活必需品的增長率保持在約20%,跑贏全國社會零售同期表現。
該行表示,雖然內地部分城市封城,但相信統一企業中國(0220.HK) 的大部分製造基地(超過30個)都正常運行,因認為政府或會在此期間確保疫情對食品生產的破壞降至最小。以現金流貼現率計,匯豐研究上調對統一目標價,由10港元升至10.5港元,評級維持“ 買入 ”,並上調集團今明兩年盈利預測介乎1%至2%。該行估計,受惠於原材料成本下降,統一的毛利率將由去年的36.6%改善至今年的36.9%。

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