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《大行》大和降康師傅(00322.HK)目標價至11元 重申「跑輸大市」評級
大和發表研究報告指,康師傅(00322.HK)管理層輕微下調2025年全年指引,預期全年收入將按年持平至輕微增長,對比3月時預期錄低單位數增長,核心盈利增長則預期維持逾10%。集團透露方便麵業務自7月起恢復按年增長,市佔率趨穩,但即飲茶、果汁及瓶裝水業務預料在第三季仍會面臨激烈競爭。 大和表示,同業東鵬飲料(605499.SH)及農夫山泉(09633.HK)在甜味茶飲新品類取得一定成功,可能加劇對康師傅飲品業務的競爭壓力,將目標價由12元下調至11元,並重申「跑輸大市」評級。
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