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《大行》里昂降中國飛鶴(06186.HK)目標價至6元 下調評級至「跑贏大市」
阿思達克 07-07 10:49
里昂發表研究報告指,中國飛鶴(06186.HK)就中期業績發出盈警,預計銷售額將按年跌8至9%,淨利潤則降36至46%,遠低於市場預期。 該行表示,雖然飛鶴全年銷售目標仍為按年錄低個位數增長,但考慮到公司渠道去庫存情況會持續至第三季,加上持續的補貼計劃及管理層維持主要產品價格水平的目標,因此對公司持審慎態度。 里昂下調飛鶴2025至27財年的淨利潤預測12至34%,又將目標價由7.1元調降至6元,並將評級由「高確信跑贏大市」降至「跑贏大市」。不過,該行相信公司對今年派息不少於20億人民幣的預測,應有助於穩定其估值。
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