《大行報告》大摩料康師傅(00322.HK)股價將在未來15日跑贏大市
摩根士丹利發表技術研究報告,料康師傅(00322.HK)股價將於未來15日跑贏大市,料發生此概率約70至80%,現價為2020年市盈率預測21倍,較過去3年的平均值25倍為低,股息率5%至6%屬吸引,投資評級為「增持」,目標價16.5元。
報告稱,由於市場憂慮首季方便麵銷售按季潛在放緩及飲料銷售疲弱帶來的去槓桿,康師傅股價自3月12日以來累跌約16%,同期恆指跌約2%。不過,隨著4月底學校復課及方便麵渠道庫存較少,預期方便麵將會在第二季保持穩健的勢頭。
另外,該行預期飲品的銷售將按季有所增長。同時,原材料有利好因素、產能精簡,以及節省廣告和促銷開支等,將支撐飲品業務的毛利率表現。
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