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<Research> Jefferies Lowers TP for MENGNIU (02319.HK) to HKD22.6, Maintains 'Buy' Rating
Recommend 5 Positive 1 Negative 5 |
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Jefferies published a research report stating that China Mengniu Dairy (02319.HK) achieved a net profit of RMB1.545 billion last year, meeting the preliminary earnings expectations. The operating profit margin was 8%, which is at the median level of the preliminary performance guidance. The firm quoted Mengniu's management as saying that the primary goal for this year is to pursue revenue and profit growth. It is expected that revenue will record mid-single-digit growth, and with cost control and improved operational efficiency, the target of expanding the operating profit margin will be achieved. The firm lowered Mengniu's earnings forecasts for 2026 and 2027 by 22% to 24%, mainly reflecting a slower expansion of the operating profit margin than previously guided. The target price was reduced from HKD24.3 to HKD22.6, and the 'Buy' rating was maintained. (sl/da) Auto-translated by third-party software This translation was auto-generated by third-party software. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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