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瑞信:是时候收集万洲(0288.HK) 指风险与回报比率吸引
格隆汇 09-04 10:48

瑞信发表报告表示,是时候收集万洲国际(00288.HK) ,相信其估值已反映负面因素,属吸引水平,兼且公司短期迎来多种正面催化剂,料可触发市场重估。

该行指,集团风险与回报比率吸引,维持对万洲国际“跑赢大市”投资评级及目标价9.3港元,料其盈利能力可望改善,估计今年下半年核心营运溢利可按年升30%,对比其今年上半年按年回落12%。

瑞信表示,料万洲旗下内地业务已见底,相信随着上调产品价格及低成本库存开始起作用,其第三季盈利能力可望改善,兼且内地政府推措施鼓励增加生猪的供应,料2020年第四季猪肉供应可望潜在回稳,缓解万洲的毛利率压力。该行亦估计万洲旗下美国业务已转佳,生猪业务於第三季已转录盈利,兼且出口市场复苏。

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