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《大行報告》麥格理上調萬洲(00288.HK)目標價至5.6元 業務觸底回升
阿思達克 09-29 09:50
麥格理發表報告指,預計萬洲國際(00288.HK)在美國的業務將於今年第三季轉虧為盈,營業利潤為8,100萬美元,而第二季營業虧損為2,600萬美元,因為生豬價格將於夏天的旺季走強,又料下半年利潤將會正常化,集團仍可實現全年每噸750至800美元的利潤目標。 中國業務方式,該行提到,由於冷凍豬肉儲備成本降低和效率提高,該行料今年下半年中國包裝肉利潤每噸將超過4,000元人民幣,相信隨著公司升級產品結構,生鮮豬肉業務將處於可持續的利潤水平。 麥格理表示,萬洲計劃在今年下半年繼續關閉效率較低的養殖場,並計劃到今年底將生豬產量削減至約1,500萬頭。該行分別上調集團2023至2025財年的淨收入預測3.3%、2.8%及2.4%,以反映美國正在改善的上游業務,該行亦將萬洲目標價由5.4元上調至5.6元,維持「跑贏大市」評級。
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