《大行報告》中金:內需H股推介蒙牛、青啤及康師傅等五股 料恆安季績可勝預期
中金發表報告表示,在今年下半年至明年依然看好具有「純內需」屬性的日常消費板塊,該行認為第二季起多數行業終端需求已逐步恢復,全年盈利或將呈現前低後高走勢。結合估值因素,建議謹慎對待部分前期漲幅較大、估值偏高的板塊,並自下而上推薦未來三年成長邏輯清晰、估值仍處於合理區間的個股,同時繼續推薦白酒、乳製品、啤酒等板塊中前期受疫情影響大、今年下半年基本面有望改善的個股。
該行指,內需H股推介蒙牛乳業(02319.HK)、青島啤酒(00168.HK)、周黑鴨(01458.HK)、康師傅控股(00322.HK)、維達國際(03331.HK),均予「跑贏行業」評級
。
中金表示,乳製品企業龍頭在今年第二季基本面改善有望快於市場此前預期,該行今年下半年起龍碩收入利潤有望回歸正,2021年低基數下有望實現恢復性高增長。啤酒行業業方面,當前行業主要以利潤為導向,消費升級趨勢不變。
該行對內地日常消費板槐作今年第二季業績展望,料次季收入或利潤有望超預期的公司,包括康師傅、統一企業中國(00220.HK)、維達、恆安國際(01044.HK)、中國食品(00506.HK)及頤海國際(01579.HK)。
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