You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
花旗:下調優然牧業(9858.HK)目標價至7港元 維持“買入”評級
格隆匯 01-07 18:54

花旗發研報指,優然牧業(9858.HK)管理層預計2021年畜羣規模將增長30%以上,包括併購在內,其畜羣規模將超過40萬頭,鞏固其排名及顯示強勁的收入勢頭,而於新市場的發展,預期2021年下半年飼料銷售在也保持強勁增長,在利潤率方面,原奶價格和飼料成本漲幅均高於預期,料2021年下半年錄負淨利潤,將目標價由7.4港元下調至7港元,維持“買入”評級。

該行表示,管理層預期2021年優質原料奶價格上升9%至10%,即去年下半年將錄得單位數升幅的價格上升,預計特色生鮮乳的價格升幅較小。展望明年,儘管差距縮小,但鑑於應仍將短缺,管理層計價格將温和上漲,料今年及明年不太可能出現供過於求的情況,原因是上游大型奶牛場和下游乳製品製造商之間的深度協調有助於防止奶牛農場過度擴張等。

該行提及,管理層訂下五年收入目標,到2026年,畜羣規模將從2021年的超過40萬頭擴大到80萬頭,料去年進口奶牛數量將從的2萬至3萬頭,減少到明年的2萬頭和明年1萬至2萬頭,預期2024年開始進口大麥。

該行續指,將公司2021年至2023年收入預測上調4至7%,並下調2021年至2023年淨利潤預測8%至13%。

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.
uSMART
Wealth Growth Made Easy
Open Account