[ET Net News Agency, 12 August 2020] Goldman Sachs lifted its target price for
Uni-President China (UPC)(00220) to HK$8.3 from HK$8 and maintained its "neutral" rating.
The research house said UPC reported an in-line 1H result. The Noodles segment's sales
finished strongly in 1H (up 22%), however noodles OPM (operating profit margin) only
expanded 50bps, as high investment in branding/promotion expenses largely offset the solid
sales and product mix increase.
Looking forward to 2H, Goldman expects its beverage segment to see improving sales as
demand recovers and tea/juice market share stabilizes However, the noodles segment is
likely to slow down and see normalized sales as "stay-at-home" consumption tapers.
Goldman revised up its 2020-22 EPS forecasts by 3-6% to reflect a better margin for
beverage, partially offset by a lower margin for noodles. (KL)
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00220 U-PRESID CHINA
Nominal 
6.040 +0.100 (+1.684%) Others
12/08/2020 09:52
{I-bank focus}Goldman lifts Uni-President China to HK$8.3
| Remark: | Real time quote last updated: 26/04/2024 13:53 |
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