《大行報告》匯豐研究上調太古(00019.HK)目標價至54元 評級「持有」
匯豐研究發表研告指出,太古(00019.HK)(00087.HK)中期核心盈利12.5億元,按年增長60%,主要由於航空分部的虧損減少。股東回報改善方面有驚喜,包括每股派息按年增長15%至1.15元,以及決定實施在公開市場最高為40億元的股份回購。
不過,該行認為持續的疫情防控對太古的飲料業務帶來負面影響,該業務上半年基本純利按年跌22%。管理層指有關拖累主要受疫情影響,相信影響短暫。但該行仍憂慮其成本壓力可能持續,另由於上游廠商的成本通脹,成本壓力將或於下半年進一步增加。同時,基於消費者情緒低迷,尤其是在香港及內地,估計成本難以轉嫁予客戶。
該行對太古A目標價由51元上調至54元,維持「持有」評級。
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