《大行報告》大摩上調恆安(01044.HK)目標價至42元 評級「與大市同步」
摩根士丹利發表報告,指恆安國際(01044.HK)上半年衛生紙產品強勁的銷售增長帶來驚喜。如果紙巾產品繼續保持10%以上的增長,市場對恆安看法或會明顯改善。而透過產品結構升級以抵銷成本壓力,仍然是公司行動重點。
大摩將恆安2022至2024年的銷售額預測提高3%,並將盈利預測分別提高1%、0%、1%,以反映更高的衛生紙銷售,但由於原材料價格上漲而導致毛利率或收縮。大摩指仍然看好恆安,目標價由37元上調至42元,以反映更強勁的銷售前景,帶來長遠經營溢利率擴張,評級「與大市同步」。
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