《大行報告》富瑞下調旺旺(00151.HK)目標價至5.3元 下半財年受惠成本壓力緩和
富瑞發表報告指,旺旺(00151.HK)2024財年上半年銷售額和淨利潤按年增長4.1%和8.5%,主要受惠於乳製品和飲料以及米果業務分別增長7.1%和4.5%。由於棕櫚油、包裝材料等原材料成本下降,毛利率提高2.4個百分點。
對於2024財年下半年,旺旺管理層預計收入將實現正增長,第四財季銷售增長將抵銷第三財季由於高基數帶來的壓力;受惠成本壓力緩和,毛利率料持續改善。富瑞維持予其「持有」評級,目標價由5.8元下調至5.3元。
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