研報掘金丨長江證券:維持海天味業“買入”評級,24年有望持續帶來盈利改善
長江證券研報指出,海天味業(603288.SH)在一年多來的去庫存階段承受了較大的業績壓力,但已在2024Q1迎來轉折點,同時自2023 年下半年以來調味品的原輔材料等成本壓力邊際弱化,2024年有望持續帶來盈利改善。公司制定的經營計劃(營收275.1億元,利潤62.3億元)仍堅持雙位數增長目標。此外,公司在2023年度的分紅比例較過去4年的50%左右提升至65%,股東回報大幅提升,價值凸顯。預計公司2024/2025年歸母淨利潤分別為63.15/68.28億元,對應EPS分別為1.14/1.23元,對應PE估值分別為35/32倍,維持“買入”評級。當前,調味品B端的復甦繼續維持漸進式特徵,C端的消費升級則表現對性價比(高品質+優惠價格)的青睞。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.