《大行報告》摩通降蒙牛(02319.HK)目標價至52元 評級「增持」
摩通認為,蒙牛(02319.HK)去年銷售額按年增長15.9%,盈利增長42.6%,業績基本符合市場預期。蒙牛下半年增長減慢主要歸因於中國整體零售額增長放緩及受到高基數影響。
該行預期,中國消費板塊未來3至6個月將迎來艱難時期,在該行覆蓋的公司中,蒙牛和伊利在成本壓力、產品組合調整等的防禦最強,維持蒙牛「增持」評級,目標價由54.5元下跌至52元。
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