[ET Net News Agency, 14 April 2020] Macquarie Research lowered its target price for WH
Group (00288) to HK$9.2 from HK$12.1 and maintained its "outperform" rating.
WH Group closed its Sioux Falls pork plant in the US after some employees were tested
positive for COVID-19. The research house lowered its 2020/21 earnings forecast by 9% and
7%, given recent weak US hog prices and that the closure could impact the Smithfield
earnings outlook.
There are 3,700 employees in the pork plant, which is 10% of total >40,000 headcounts in
Smithfield. The production in this plant consists of fresh pork and packaged meats.
Macquarie projected the company will record strong earnings growth in 1Q with 69%
operating profit growth to US$576m. (KL)
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00288 WH GROUP
Nominal 
5.390 -0.020 (-0.370%) Research Report
14/04/2020 17:43
{I-bank focus}Macquarie lowers WH Group (00288) to HK$9.2
| Remark: | Real time quote last updated: 19/04/2024 18:00 |
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