《大行報告》建銀國際升萬洲(00288.HK)目標價至5.3元 今財年前景較好
建銀國際發表報告,將萬洲國際(00288.HK)去年第四季經營利潤預測,由原先的增長1%,調低至下跌1%,主要反映內地業務較預期疲弱,估計包裝肉類銷量按年有雙位數跌幅,因為前年比較基數高,以及今年農曆新年時間較後,市場需求受影響。該行將內地業務經營利潤預測下調27%。
該行預期萬洲今年前景較佳。其中,美國業務經營利潤率改善,因為公司在成本較有利的環境(原料成本下降)增加產能;內地方面,1月份包裝肉類銷售勢頭良好,預期今年銷量有低單位數升幅。
該行預期公司今年息稅前利潤率(EBIT margin)按年改善0.9個百分點至6.9%,目標價由4.8元上調至5.3元,維持「跑贏大市」評級。
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