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《大行報告》瑞銀:萬洲(00288.HK)上半年業績符預期 目標價下調至7.43元
阿思達克 08-16 09:30
瑞銀髮表報告指,萬洲(00288.HK)今年上半年業績符預期。管理層預計下半年經營環境將改善。 該行指,萬洲管理層預計內地生豬價格將在下半年上漲10至20%,至每公斤約17元人民幣。集團已在低價位建立凍肉庫存,預計將價格上漲週期中獲利。管理層亦預計,下半年包裝肉業務利潤將有單位數增長,但由於下半年基數較高,豬肉分部利潤將有所下降。至於美國豬肉業務料將繼續出現虧損,但情況會有所改善。 瑞銀將萬洲今年至後年盈利預測分別下調35%、9%及10%,各至8.39億美元、12.58億美元及13.55億美元,主要是考慮到高飼養成本對美國豬肉業務的影響。維持「買入」評級,目標價由8.23元降至7.43元。
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