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《大行報告》摩通上調統一(00220.HK)目標價至9元 評級「增持」
摩根大通發表報告指,統一(00220.HK)首季盈利(不包括出售合肥工廠收益)按年下降約30%,低過市場預期的正增長,主因3月份銷售下跌及宣傳推廣對銷售比率上升等所拖累。 該行預計,在需求復甦乏力和成本通脹緩和下,競爭將會加劇。盈利修正後,該行預期公司今年的銷售和經常性盈利將按年分別增長6.6%和12%,淨利潤率增長20個基點至4.5%。相比之下,同業康師傅(00322.HK)今年的銷售和盈利按年分別增長高單位數和33%,意味着淨利潤率擴大80個基點。 該行將統一目標價由8.5元升至9元, 評級「增持」。
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