《大行報告》富瑞下調萬洲(00288.HK)目標價至6.34元 評級「買入」
富瑞發表研報指,中國包裝肉類產品銷量雖然維持健康水平,但每噸利潤持續按年下跌,而同時美國市場消費情緒亦疲弱,豬肉利潤受壓,該行預測萬洲國際(00288.HK)今年上半年銷售額將按年持平達到134億美元,中期淨利潤則按年下跌36%至4.9億美元,當中第二季淨利潤預期達到2.96億美元。
該行又預測,行業成本上升,中國包裝肉類銷量增長緩慢,第二季增幅料達到2.5%,每噸經營利潤將略低於管理層目標的4,000元人民幣;美國包裝肉類銷量第二季料按年跌4%。
富瑞將萬洲2023至2025年純利預測下調24%、9%及8%,目標價由7.14元下調至6.34元,但由於估值水平較低,維持「買入」評級。
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