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南京證券:中秋國慶備貨開啟 關注食品飲料行業雙節動銷情況
格隆匯 09-12 14:09
南京證券研報指出,中秋國慶備貨開啟 關注食品飲料行業雙節動銷情況。白酒方面,臨近中秋國慶,各家酒企逐步開啟旺季備貨,相較往年,今年渠道對於中秋國慶預期較為平淡,可能出現旺季開啟時間較晚但相對集中的情況。總體來看,龍頭酒企對行業自身的認知較為清晰,中秋國慶回款已逐步開啟,預計經過雙節旺季龍頭酒企將基本完成全年回款進度目標。經過前期調整,目前白酒板塊估值處於2019年以來較低位置,估值性價比逐步顯現;隨着白酒龍頭公司分紅規劃的推出,板塊分紅率逐步提升.大眾品食品方面,消費短期承壓帶來需求端相對疲弱,成本端大豆、包材、原奶等原材料成本下降,預計中秋國慶節日效應帶來業績小幅改善。
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