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《大行報告》高盛升康師傅(00322.HK)及統一(00220.HK)目標價 飲料行業龍頭市佔料續擴張
高盛發表研究報告指,中國軟性飲料行業規模於2022至2027年間複合年增長率預料達到7%,疫情過後線下流量恢復及戶外活動增加,將推動飲料消費場合多樣化,加上企業重新推出新產品及營銷計劃,預期市場銷量滲透率仍有很大提升空間。 該行繼續將農夫山泉(09633.HK)視為長線投資選擇之一,但由於估值水平,維持對其「中性」評級,目標價49元。高盛又指,現時更為看好線下銷售,預期龍頭企業擁有具規模及覆蓋廣泛的銷售網絡,亦有充足資金來推動持續的產品創新與營銷,對於產品生命週期較短的飲料行業尤其重要,預計行業龍頭將持續取得更多市場份額。 高盛認為康師傅(00322.HK)及統一(00220.HK)擁有長期增長優勢,今年收入可平均增長16%,兩者都維持「買入」評級,其中康師傅目標價由15.5元調升至16元,而統一的目標價則從9元上調至9.5元,均對應2024年預測市盈率約17倍不變。
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