大行評級|交銀國際:上調蒙牛目標價至20.94港元 維持“買入”評級
交銀國際發表研究報告指,蒙牛早前預告,減值影響整體利潤,惟毛利率和經營利潤率明顯提升。集團預計去年盈利介乎0.5至2.5億元,按年減少94.8至99%。不過,撇除減值後,集團預計期內盈利爲46.4至51.5億元,符合市場預期,主營業務表現穩健。另外,公司派息將剔除減值影響,意味着分紅不會受到一次性負面因素的影響。
該行表示,蒙牛作出盈利預告後,股價呈現雙位數升幅,顯示市場對公司經營表現的認可和未來發展的信心。該行將集團目標價由16.04港元上調至20.94港元,維持“買入”評級。
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