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大行評級丨建銀國際:上調康師傅目標價至12.2港元 維持“跑贏大市”評級
格隆匯 01-13 13:16
建銀國際指,康師傅去年7月把經典面系列出廠價作中單位數上調後,去年10月對大號包裝麪食出廠價作中單位數上調,兩次調整佔公司即食麪產品組合八成。該行料去年下半年毛利率擴大1.8個百分點至32.2%,受惠產品平均售價上升及有利的原材料成本,尤其是糖及麪粉。該行料去年下半年淨利潤增長17%,銷售增長0.4%,意味全年淨利潤增長16%,跑贏10%至15%增長的指引。建銀國際大致維持對該股去年盈利預測,目標市盈率14.5倍,目標價由11.1港元上調至12.2港元,維持“跑贏大市”評級。
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