[ET Net News Agency, 22 January 2021] Goldman Sachs lifted its target price for China
Mengniu Dairy (02319) to HK$53.1 from HK$46.3 and maintained its "buy" rating on a better
earnings outlook.
The research house raised its 2020-22 EPS forecasts by 1-2% to reflect the higher cost
pressure, a lower expense ratio, and higher profit contribution from its upstream
subsidiary China Modern Dairy (01117).
For 2H 2020, Goldman looks for low to mid-teens organic sales growth and 40bps core OPM
expansion. While raw milk cost is likely to increase by 5% in 2021, Goldman believes that
Mengniu will have the ability to pass through via reduction of rebates and mix upgrades.
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
02319 MENGNIU DAIRY
Nominal 
15.800 -0.200 (-1.250%) Others
22/01/2021 17:30
{I-bank focus}Goldman lifts Mengniu Dairy (02319) to HK$53.1
| Remark: | Real time quote last updated: 25/04/2024 17:33 |
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