《大行報告》大和下調農夫山泉(09633.HK)目標價至42.8元 評級「跑贏大市」
大和發表報告指,農夫山泉(09633.HK)舉行了分析員會議,管理層提供了去年下半年的業務回顧,及今年目標。由於飲品需求強勁復甦,集團去年下半年純利達73億元人民幣,符合市場預期。
該行表示,管理層目標今年收入增長達雙位數(意味10%以上),及毛利率回覆至2019年水平。另外,管理層提到年初至今的收入表現強勁,但PET塑料亦出現成本壓力。
大和下調農夫山泉股份目標價,由46.4元降至42.8元,評級維持「跑贏大市」,考慮原料成本上升擠壓毛利率預期,調低集團今明兩年收入預測2%至4%,盈利預測亦降低4%至5%。
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