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《大行報告》大和上調日清(01475.HK)目標價至6元 評級「持有」
阿思達克 11-08 10:24
大和發表研究報告指日清食品(01475.HK)公布第三季業績,收入按年升5.7%,純利則跌27%,因毛利率跌1.8個百分點遜預期和稅率上升8.3個百分點至24.4%所致。 該行指,第三季毛利率為30.6%,是自2019年首季以來新低。期內,中國內地收入按年增3.9%,經營利潤率增0.5個百分點,符合預期。至於香港收入則錄得下降,經營利潤率按年及按季皆呈收縮。該行預期第四季本港表現將可輕微向上,較保守的銷售開支可抵銷毛利率壓力。 該行降日清食品2021至2023年純利預測5%至8%,收入預測降1%至2%,以反映下調後的邊際利潤預測,維持「持有」評級,目標價由5.8元升至6元。
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