研報掘金|中金:上調萬洲國際目標價至8.56港元 今年盈利將持續改善
中金髮表報吿指出,萬洲國際去年利潤略超預期,主要由於美國肉類產品業務的每噸利潤較高,以及去年第四季上游豬肉業務的業績超出預期。展望今年,國內業務方面,該行料肉類產品的銷量和利潤將持續增長,雖然每噸利潤可能按年微降,但仍保持高企。美國業務方面,根據史密斯菲爾德的指引,該公司計劃維持低至中單位數的收入增長,並將經營利潤保持在11億至13億美元。考慮到美國上游業務將受惠於豬價上升和飼料成本下降,該行將萬洲今明兩年的淨利潤預測上調9.7%及7.2%,各至16.14億及16.83億美元。該行維持對其“跑贏行業”評級,目標價上調10%至8.56港元,認為公司今年盈利將持續改善。
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