《大行報告》里昂降維他奶(00345.HK)評級至「跑輸大市」 目標價下調至13.3元
里昂發表報告指,維他奶(00345.HK)2023下半財年銷售額按年下降7%,主要是受內地銷售額下降20%拖累,不過香港業務增長勢頭仍持續。雖然管理層已顯示出強烈的決心,要通過豐富產品組合和改善渠道管理加快在內地銷售,但該行認為執行過程需時,特別是考慮到維他奶相對於主要競爭對手的保守管理風格。
利潤率方面,里昂預計維他奶將加大營銷活動力度支持銷售,可能會導致更高的廣告和促銷成本。該行將維他奶的評級由「跑贏大市」下調至「跑輸大市」,並將目標價由16.2元下調至13.3元。
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