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《大行報告》大和:重申看好乳業股 首選蒙牛(02319.HK)
大和發表報告,重申對中國乳業的積極看法,因為內地乳業股今年上半年的業績證明年初以來的原奶價格上漲已被平均售價上漲和產品結構改善完全抵銷。 該行指,受惠健康意識提高和品牌領導者專注於產品的高端化,令內地市場保持彈性的增長,而不是通過降價來獲得市場份額。大和表示蒙牛(02319.HK)仍然是該行首選,目標價60元,予「買入」評級,同時亦看好澳優(01717.HK),目標價14.5元,評級「買入」,因估值不高,而且在中國嬰幼兒配方羊奶粉領域處於領先地位。而大和各予現代牧業(01117.HK)和優然牧業(09858.HK)目標價分別為3.42元和7.3元。 對於內地液體乳製品公司,大和預測2021年至2023年的每股盈利年複合增長率為9%至35%,並預計持續的價格上漲和併購將成為股價的催化劑。
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