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《大行報告》大和上調恆安(01044.HK)目標價至38.2元 評級「持有」
阿思達克 01-31 10:32
大和發表研究報告指,預計恆安(01044.HK)去年下半年總收入按年增11%,當中紙巾業務增17%,且帶動集團2023至24年的收入增長;惟衛生巾和紙尿褲業務仍疲弱,衛生巾業務於去年下半年競爭激烈,成本上升導致毛利率受壓,而衛生巾在零售渠道出現大幅折扣,但集團的整體高端產品貢獻正在增加,顯示產品結構正在改善。 該行提到,集團的上游供應商宣布擴大產能計劃,令木漿價格回落。該行將集團去年盈利預測下調4.2%,而今明兩年則分別下調0.3%及0.1%。維持其「持有」評級,目標價則由35元上調至38.2元。
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