《大行報告》摩通上調康師傅(00322.HK)目標價至16.3元 評級「增持」
摩根大通發表研究報告指,康師傅(00322.HK)去年銷售按年增6.3%,盈利跌30.8%至26億元人民幣(下同)。集團派息共46.72分,包括末期息23.36分及特別息23.36分,相當於7.3%的股息率。集團目標今年盈利增長33%至35億元人民幣。
該行表示,預計集團今年的銷售額及盈利將按年增長8%及34%,2023至25年的複合年增長率分別為5%及23%。目標價由14.5港元上調至16.3港元,評級為「增持」。該行指,鑑於中國在方便麵行業的滲透率高、行業增長乏力以及消費者不利觀感,因此摩通對方便麵行業在內地整體餐飲板塊的評價不高,目前非理性競爭有所緩解,對集團有利,看好其轉勢故事和輕資產的戰略。
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