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大摩:予達利食品(3799.HK)增持評級 目標價5.2港元
格隆匯 12-30 16:37

摩根士丹利研報指,將達利食品(3799.HK)目標價由5.7港元調低至5.2港元,評級“增持”。預期集團今年下半年的業務表現不一,料重點產品短保麪包(保質期短的麪包)、能量飲品及豆奶產品將有雙位數字增長,而休閒食品則有所下跌,部分由於基數較高。

該行預期,原材料成本在今年下半年繼續拖累毛利率,尤其是PET(聚對苯二甲酸乙二酯)價格上升。因此,該行下調集團今年全年銷售額預測1%,下調毛利率預測1.1個百分點,令盈利預測亦跌3%;同時該行相應調低集團2022至2023年每股盈利預測3至4%。 該行目前預計集團2021、2022及2023年銷售額分別增7%、6%及5%,盈利增3%、8%及6%。

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