[ET Net News Agency, 3 December 2020] Goldman Sachs raised its target price for China
Mengniu Dairy (02319) to HK$46.3 from HK$40.3 and reiterated its "buy" rating.
The research house said Mengniu is seeing faster than industry and peers sales growth
into 2H, on the back of further penetration increase and demand recovery for its yogurt
category.
The recent product price discounts also get narrower on a sequential basis, reflecting
both Mengniu/Yili's comments on lower promotional expenses ratio amid a rising raw milk
price environment.
Looking forward, Goldman sees Mengniu as positioned well entering 2021 in the consumer
sector, on (1) potential near-term profit upside as sales growth remains strong and with
GP margin increasing despite rising milk cost; and (2) longer-term continued market share
gain and mix upgrades remain intact. (KL)
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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 
15.860 +0.320 (+2.059%) Others
03/12/2020 17:13
{I-bank focus}Goldman lifts Mengniu Dairy (02319) to HK$46.3
| Remark: | Real time quote last updated: 23/04/2024 17:59 |
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