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.
《大行報告》匯豐研究下調中國飛鶴(06186.HK)目標價至11.7元 評級「買入」
阿思達克 03-31 13:58
匯豐研究發表報告,下調中國飛鶴(06186.HK)目標價由15.3元至11.7元,主要是由於加權平均資金成本(WACC)從之前的7.5%提高到9.5%,以反映其收益和行業前景的不確定性。評級「買入」。 報告指,中國飛鶴去年收入增長22.5%,接近其增長目標25%至30%的低端水平。去年下半年,收入增長放緩至13.6%,但仍好於該行估計的倒退1%。 匯豐研究指,當嬰兒配方奶粉市場放緩和競爭加劇時,會出現盈利風險,並會在今年充分體現。而中國飛鶴亦預計今年上半年的收入將下降,以使渠道庫存恢復正常。全年計管理層料收入將增長雙位數。而該行目前預計其今年的收入將增長10.3%,由於2021年的收入高於預期,今年收入預測比之前預期高4%。 該行預計,中國飛鶴在2022年至2024年期間,經調整淨利潤率將逐漸恢復到2024年的21.9%,期間收入將以15%的年複合增長率增長。
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