《大行報告》摩通下調萬洲(00288.HK)目標價至8.2元 估值吸引評級「增持」
摩根大通發表報告,將萬洲國際(00288.HK)目標價由8.4元降至8.2元,此按綜合方式作估值,其中相當於中國業務估值為預測市盈率15倍(此前為20倍),但認為該股被過度沽售和估值吸引(相尚於預測明年市盈率5倍、預測今年市賬率0.7倍),予「增持」評級。
該行指,萬洲今年第三季銷售額和經營利潤基本符合預期。該行將今年至後年的盈利預測下調6至8%,以反映今年美國業務上游利潤下降,以及明年和後年包裝肉單位經營利潤下降的假設。該行目前預測萬洲今年的銷售、經營利潤、撇除生物公允價值利潤將按年分別增長2%、19%、12%,明年按年增長3%、6%、10%。
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