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<Research> UBS Raises TP for CHINA MENGNIU DAIRY (02319.HK) to HKD21.2, Maintains 'Buy' Rating
Recommend 12 Positive 10 Negative 2 |
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UBS published a research report indicating that CHINA MENGNIU DAIRY (02319.HK)'s performance last year was consistent with preliminary forecasts. During the period, revenue fell by 7% year-on-year, while net profit rose to RMB1.5 billion, affected by a low base and a financial and fixed asset impairment loss of RMB2.3 billion. The company declared a final dividend of RMB0.52, slightly higher than RMB0.51 in 2024. The firm noted that CHINA MENGNIU DAIRY's management mentioned initial signs of recovery in milk consumption, with liquid milk sales recording high single-digit growth in 1Q26. Additionally, management aims to gradually increase the dividend payout ratio over the next 2 to 3 years while maintaining a stable share repurchase plan. The firm slightly raised CHINA MENGNIU DAIRY's EPS estimates for 2026 to 2027 to reflect the recovery in raw milk prices and increased the target price from HKD20.5 to HKD21.2, maintaining a 'Buy' rating. (sl/u) 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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