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《大行报告》野村下调万洲(00288.HK)目标价至10.1元 评级「买入」
阿思达克 08-12 10:46
野村发表研究报告指,万洲国际(00288.HK)中国包装肉类业务增长强劲,美国业务预期最差时期亦已过去,维持「买入」评级。

报告指,万洲次季经营利润按年跌12%,主要是疲软的美国业务所拖累,但中国包装肉类销量於季内增长强劲,由第一季的跌7.5%回复至按年升4.3%,带动包装肉类业务经营利润按年升59%。疫情下美国业务相关成本增加,第二季包装肉销量按年下跌12.4%,令经营利润显着下跌58.4%。但该行预期,美国业务下半年将逐步恢复,疫情相关额外费用亦将大幅减少。

野村将2020年盈利预测下调14%,认为疫情对美国业务的影响超出预期,但有部分被中国业务增长所抵消,并将目标价由11.4元下调至10.1元。

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