研報掘金|中金:上調統一目標價至7.5港元 維持“跑贏行業”評級
中金髮表研究報吿指,統一2024財年首季收入按年比較錄得低雙位數增長,主要受益於春節錯期及飲品動銷較好。該行預測,統一旗下各個分業務於今年首季度的表現。飲品業務收入按年比較將錄得雙位數增長;食品業務收入按年增長料呈低單位數;至於新品業務方面,統一今年陸續推出多項新品的策略,將積極延伸飲品消費場景。中金同時預計,統一今年首季度的毛利率,按年比較將提升4至5個百分點;公司同期的銷售費用率,按年比較將錄得持平至微升。該行亦預期公司扣除非經常性損益的淨利率,將由3.4%提高至6%。對於統一2024財年的全年表現預測。中金預期統一的飲品業務有望實現雙位數增長;食品銷售有望保持穩健增長;同期的毛利率亦有望錄得良好提升。考慮到公司基本面良好的趨勢,加上高股息率約8%,該行認為公司目前的投資價值凸現。另外,中金分別上調統一2024及2025財年的盈利預測11%,同時將其目標價上調15%至7.5港元,維持“跑贏行業”評級。
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