《大行報告》大摩下調達利食品(03799.HK)目標價至4.8元 評級「增持」
摩根士丹利發表研究報告,將達利食品(03799.HK)今年銷售預測下調9%,以反映第二季疫情影響,並在較低基數上將2023至2024年預測下調7%。
該行又指,由於原材料價格上漲,因此將達利食品今年毛利率預測下調0.4個百分點,預期全年將收窄1.7%;2023至2024年毛利率預測則上調0.2%至0.6%,從而反映到價格上漲及原材料價格可能下降的影響。
大摩預期達利食品今年上半年銷售額將按年跌7%,當中飲料銷售額跌17%,休閒食品銷售額下降6%,毛利率預期下降3個百分點,因此預計淨利潤將按年下降15%。
大摩將達利食品今年每股盈測下調10%,2023年及2024年每股盈測則分別下調7%及5%,目標價相應由5元降至4.8元。惟大摩指,達利的增長勢頭仍將較同業強,預計今明兩年股息率為4%至5%,股本回報率達18%,具有吸引力,給予「增持」評級。
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.