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《大行》招商證券國際降蒙牛(02319.HK)評級至「持有」 料明年盈利逐步復甦
阿思達克 09-01 16:16
招商證券國際發表研究報告,將蒙牛(02319.HK)的投資評級從「買入」下調至「持有」,指出上半年業績遜預期,液態奶銷售下跌11%,聯營公司虧損擴大,反映公司復甦步伐較預期慢,相應將2025至2026年淨利潤預測下調約20%,2025至2027年收入預測亦下調9%至14%。 該行指出,雖然蒙牛透過提供穩定股息及持續回購,可為股價帶來一定支持,但在業務增長預期疲軟的情況下,股價壓力不太可能完全消除,預期要隨著減值損失減少,至明年盈利才會逐步復甦,目標價由23元降至16.5元。
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