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花旗:上調康師傅(0322.HK)評級至中性 目標價14.13港元
格隆匯 08-25 16:13

花旗發表研究報告指出,康師傅控股(0322.HK)上半年核心淨利潤按年大增,主要由於疫情期間消費者在家烹飪變多,刺激方便麪產品淨利潤,投資評級由沽售上調至中性,新目標價為14.13港元。

報告指,經銷商以及消費者補庫存以及積極的運營槓桿也推動了淨利潤增長;公司的飲料淨利潤增速亦勝預期,不過,公司方便麪銷量增速可能會在下半年至2021年放緩,位於歷史高位的毛利率也難以持續至2021-22年,因此即使將公司2020╱2021年的淨利潤預期分別上調36%和9%,花旗仍然只將股票評級調升一個等級到中性。

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