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大行評級|建銀國際:上調萬洲目標價至6港元 維持“跑贏大市”評級
格隆匯 04-24 13:42
建銀國際發表研究報吿指,萬洲首季業績表現強勁,生物公允價值調整後的純利按年升139.7%至4.65億美元;收入降8.3%至61.81億美元;營運利潤率升2.7個百分點至8.1%。該行預計,集團的美國上游業務將在次季扭虧為盈。由首季的虧損6,200萬美元轉為盈利500萬美元,預計第二季的營運利潤率為6.6%。該行又預期,中國業務在2024財年銷售點擴張的支持下,包裝肉銷量按季將會增加。另外,該行料集團第二季的整體營運利潤率將錄得改善,達到8%。建銀國際分別上調萬洲2024及25財年的盈測7.1%及11.3%,以反映集團首季強勁的業績及預期中美地區業務有較好的營運利潤率。因此,目標價亦相應由5.6港元上調至6港元,續予“跑贏大市”評級。該行指出,集團正考慮分拆旗下史密斯菲爾德食品並重新在美國上市,將有助提高公司的盈利能見度。
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