《大行報告》高盛輕微下調蒙牛(02319.HK)目標價至57.4元 評級「買入」
高盛發表研究報告指出,蒙牛(02319.HK)去年業績與預期基本一致,期內銷售額及經營溢利分別按年增長16%及38%。公司近期面對疫情封鎖的挑戰,管理層仍有信心於2022財年實現低雙位數字(約10%至13%)的銷售增長,以及經營利潤率擴張30至50點子。
該行相信,蒙牛相對穩定的原奶價格、持續的高端化和新品類的擴張(冷凍牛奶和奶酪等),有助公司於2022財年實現另一個強勁的增長前景,有望達穩固雙位數增長,同時對其2022至2024財年的每股盈利預測調整少於1%,主要反映原材料成本略升,目標價由57.9元下調至57.4元,評級「買入」。
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