大和:维持康师傅控股(00322)“持有”评级 目标价降至11港元

Daiwa: Maintaining Master Kong Holdings (00322)'s “Hold” Rating, Target Price Reduced to HK$11

Zhitong Finance ·  Nov 2, 2023 22:43

Yamato believes that the price increase will ease the profit pressure of Master Kong Holdings (00322) in 2024, but the boost to revenue is likely to be mixed.

The Zhitong Finance app learned that Daiwa released a research report saying that due to raw forest materials and rising labor costs, Master Kong Holdings (00322) announced an increase in retail prices for some beverage SKUs yesterday. The bank believes that price increases will ease the group's profit pressure in 2024, but given the potential sales pressure amid intense competition, the boost to revenue is likely to be mixed. The target price was reduced by 4% from HK$11.5 to HK$11, maintaining the “hold” rating. Due to the increase in average sales prices, the bank raised the company's profit forecast for 2024-25 by 1%, but the sales forecast declined slightly, which partially offset the impact of the price increase.

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