《大行报告》花旗上调统一(00220.HK)目标价至9.4元 评级「买入」
花旗发表究报告,指统一(00220.HK)第二季纯利升4%,符合预期,撇除一次性项目,核心盈利大致持平,主因在季内策略性投资推广其主要产品。管理层指,即食面的销售增长在第二季销售按季增建温和,而饮品方面跌幅收窄,预期公司下半的销售和盈利可以加快复苏,维持「买入」评级,目标价由9.13元升至9.4元。
因疫情缓和,该行预期下半年市场需求会正常化,料暑假即食面行业的销售增长会减慢至中单位数(上半年升22%);饮品销售恢复正增长(上半年跌7%)。管理层留意到水灾对销售和渠道的影响有限,除了最受影响的地区。虽然预期政府在新冠肺炎疫方面资助会减少,但料在推广方面投资会持续。
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