大行評級|大和:上調統一企業中國目標價至9.7港元 2024財年下半年業績符合預期
大和發表研報指,統一企業中國2024財年下半年業績符合市場及該行預期。該行注意到,儘管2024財年首季的比較基數正常,麪條和飲料的增長勢頭在2025財年首季進一步加速,凸顯了進入2025年強勁的經銷商需求。該行預計,統一2025財年麪條業務收入按年增長將由2.6%加速至4.5%;飲料收入按年增長亦將由8.2%加快至8.9%。該行亦預期,統一2025財年毛利率將由32.5%進一步擴大至33.7%,主要由於原材料價格波動可能會被持續向飲料轉變的產品組合、因銷量增長導致工廠更高利用率、促銷減少所抵消。另外,大和維持對統一2025至2026財年的每股盈利預測基本不變,重申該股的“買入”評級,並將目標價由8.1港元上調至9.7港元。
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