You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行報告》瑞銀上調康師傅(00322.HK)目標價至22.94元 評級「買入」
阿思達克 08-25 10:48
瑞銀發表的研究報告指,與康師傅控股(00322.HK)於業績後召開會議,投資者大致關注成本上升問題及去年麵類產品基數較高等,但就低估了公司的定價能力及執行力改善,致公司與同業比較有不合理的折讓。該行對公司盈利前景看法較正面,主要因為康師傅宣布即食麵加價,而在即食麵及飲品方面市佔率亦有提升。另外公司宣布斥25億元人民幣派特別息,管理層有意透過潛在派發特別息回饋投資者。 管理層指出,公司增加了在線上營銷、線上平台及與名人合作推廣新產品,以改善公司在年輕消費者眼中的品牌形象,另一方面亦有推出無糖或低糖飲品,並將於2022年推出即食食品類別。該行相信公司執行力有改善,可強化其市場領導地位。 瑞銀指出隨著6月以來麵類的收入增長轉正,公司於7月及8月將大包裝及中端麵類產品提價亦獲各渠道認可,因此估計在今年底或明年初其他麵類產品亦有機會提價,而其他競爭對手上半年受成本壓力高影響均錄虧損。該行相信就業前景改善將利好將成本轉嫁予終端客戶。 瑞銀將公司2021-23年盈利預測升2%,以反映飲品收入及利潤估算提升,但相關因素部分被麵類產品溢利估算下降所抵銷,目標價由22港元升至22.94港元,評級「買入」。(el/u) ~
Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account