《大行報告》瑞信升康師傅(00322.HK)目標價至17.5元 評級「跑贏大市」
瑞信發表研究報告指,康師傅(00322.HK)今年以來旗下即食麵和飲品業務收入,分別錄按年跌雙位數及升雙位數,分別符預期及稍高於公司預期,公司管理層指在成本上升的情況下,正考慮加價。
該行指,康師傅計劃未來兩年擴張其銷售城市區域,由去年底的160個,擴至未來兩年的300至400個,料將推高收入10%,而在對手計劃針對利潤的情況下,公司的推廣開支可以較為溫和。
瑞信升康師傅今年盈利預期14%,以反映收入增長和明年盈利表現,目標價由16.5元升至17.5元,此相當預測2022年市盈率20倍,維持「跑贏大市」評級。
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