大和:上調日清食品(1475.HK)評級至優於大市 目標價升至6.8港元
日清食品(1475.HK)宣佈,將調整其主要即食麪產品在中國內地的出廠價格。大和發表研究報吿指,日清食品提價抵銷了毛利率水平的成本壓力,因為棕櫚油成本仍然很高,認為這是其內地業務的主動管理成本方式,預計其在內地的營業利潤率將在2022年按年增長2.5個百分點,該行將其評級由“持有”調升至“優於大市”,目標價由6港元上調至6.8港元。
該行表示,這將暫時利好日清的居家消費中的香港麪條收入,並預計如果延長2周的時間,貢獻會更大,上調2022年香港收入預測1%,2022年至2023年內地收入預測上調7-8%,同時上調2022年至2023年淨利潤預測10%至13%,亦看好其在內地的優質產品地位將抓住方便麪和食品類別的高端化趨勢。

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