《大行報告》大和首予優然牧業(09858.HK)「買入」評級 目標價7.3元
大和發表研究報告,首次給予優然牧業(09858.HK)「買入」評級,指出根據市場數據,公司爲內地最大原奶供應商,以銷量計市場份額達4.5%,並向近500家公司供應飼料及養殖產品,認爲優然牧業與伊利(600887.SH)的合作關係良好,鞏固公司地位,加上其垂直經營模式有助降低經營成本波動,看好潛在奶收益率和經營效率可提升。
該行預測優然牧業2021至2023年各年淨利潤將分別按年增長92%、44%及30%,主要來自原奶銷量增長及奶收益率提升,預期高端原奶銷量於2020至2023年間年均複合增長達25%。
大和並估計,下半年優質原奶價格將按年上升9%,明年預期因供應短缺,價格將保持較高水平,預期原奶價格每上升1%將會導致2022至2023年每股盈利增長0.5%。該行同時預測伊利於2021至2023年收入將複合增長8%,高端產品組合收入料複合增長15%,伊利高端化發展及擴張將支持優然增長,予優然目標價7.3元。
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.