《大行報告》高盛調整農夫山泉(09633.HK)、康師傅(00322.HK)及達利食品(03799.HK)目標價 升統一(00220.HK)評級至「買入」
高盛發表研究報告,將統一企業中國(00220.HK)的投資評級由「中性」上調至「買入」,指出以目前估值水平計上行機會大於下行風險,同時假設大宗商品價格持續穩定,而飲料及即食麪需求相對具韌性,則預計下半年將有所改善,明年或迎來利潤率提升機會,目標價由7.2元升至7.7元。
該行又指,康師傅(00322.HK)及農夫山泉(09633.HK)上半年業績好過預期,達利食品(03799.HK)則大致符合預期,總體而言飲料業務表現好過預期。高盛指,企業主要透過上調價格上漲、減少經銷商折扣、採購鎖定原材料價格,以及業務增長來抵銷利潤率壓力,展望下半年相信疫情相關影響將緩解,收入料將持續加快增長,但通脹壓力將持續存在。
該行預測,若2023年大宗商品價格回落至去年下半年水平,則康師傅、統一及農夫山泉可成爲最大潛在受益者。高盛將農夫山泉目標價由46元升至47元、康師傅目標價由14元升至15.7元,達利食品目標價由4.3元降至4.2元,評級均爲「中性」。
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