《大行報告》大摩上調農夫山泉(09633.HK)目標價至44元 評級「與大市同步」
大摩發表報告,上調農夫山泉(09633.HK)去年每股盈測4%,但將今年至明年每股盈利預測下調1%至2%,反映預測去年至明年各年增長率分別14.8%、11.1%和19.3%。基本維持去年銷售增長10.8%預期,並將今明兩年銷售預測各下調約3%,料分別增長14.8%和16.4%。目標價由42元升至44元,評級「與大市同步」。
報告指,去年第三季的有利天氣因素,應被第四季的新冠感染個案激增所抵銷,預計去年下半年銷售增長為12%,其中茶飲料增長約50%,果汁增長23%,水增長6%。毛利率料下降3.3個百分點,營業利潤率料按年持平。
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