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《大行報告》花旗微升澳優(01717.HK)目標價至13.82元 首季核心盈利勝預期
阿思達克 05-13 14:33
花旗發表報告,指澳優(01717.HK)首季核心盈利勝預期,其中牛奶奶粉銷售增長36%,抵消了羊奶奶粉銷售下降的7%,兩者都好於預期。就牛奶奶粉而言,超高端系列(Hyproca 1897)繼續表現出色,今年首季銷售增長59%。

銷售前景方面,該行指,管理層維持今年收入15%增長目標,其中牛奶和羊奶奶粉銷售都有兩位數的增長,並預計今年全年利潤率將恢復到2019年約52.5%的水平,原因包括銷售組合轉向高利潤產品及將副產品加工成增值產品。

花旗維持對澳優2021至2023年度的收入增長分別為15%、14%、11%預測,及維持核心盈利分別增長21%、11%和11%預測。目標價由13.7元輕微上調至13.82元,相當於預測2021年市盈率15倍。

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