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《大行報告》大和升康師傅(00322.HK)目標價至18.2元 中期純利高預期逾五成
阿思達克 08-25 10:13
大和發表報告表示,康師傅(00322.HK)公布今年上半年純利及核心純利按年各升50%及80%,均高出該行原預期逾50%,主要是受益於方面麵的定價及較佳使用率、飲料產品成本降低,從而推高毛利水平,公司在方面麵及包裝水市場份額均有所提升。

該行表示,重申對康師傅「買入」投資評級,上調對其目標價由15.2元升至18.2元,此相當今明兩年綜合市盈率23倍。康師傅管理層亦上調今年銷售增長指引,由原來按年升低單位數字,升至高單位數字,最新對今年純利指引為雙位數字增長(此前按年正增長)。

大和稱,基於康師傅營運毛利率轉佳,決定上調對其2020年至2022年收入預測各6.4%、6.7%及6.3%,同時調高對其2020年至2022年純利預測各39%、29%及24.2%。

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