《大行報告》瑞銀下調旺旺(00151.HK)目標價至7.49元 評級「買入」
瑞銀發表研究報告指出,旺旺(00151.HK)2023財年上半年收入按年跌4.8%至108.33億元人民幣,大致符合預期;純利跌23.6%至15.96億元人民幣,較市場預期低5%,主要由於原材料成本高過預期。管理層預期,受累於疫情帶來不確定性影響,短期銷售增長的不利因素或將持續。然而,在原材料價格穩定及由11月起的另一輪產品均價提升的情況下,管理層料下半財年毛利或潛在復甦。
該行將旺旺2023至2025財年的純利預測下調14%至16%,以反映受疫情影響及高過預期的原來料成本,維持對其「買入」評級,目標價由8.2元降至7.49元。
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