[ET Net News Agency, 14 August 2019] Goldman Sachs lowered its target price for WH
Group (WHG)(00288) to HK$9.5 from HK$10.1 and maintained its "buy" rating.
The research house said WH Group reported in-line 1H result. Implied 2Q net profit is
down 13%, with China operating profit dragging the most down 22% and US/International
operating profit up 4%.
Despite the declining 1H profits, Goldman still sees a case of earnings recovery for WHG
in 2H and 2020 ahead. It believes WHG will increase the exports from the US as well as
from other regions (Europe, South America) to China. It also expects that China business
to see stabilizing margin in 2H from the price hike effects and use of more low-cost
frozen inventory.
Goldman reduced its 2019-21 EPS forecasts by -7%/-4%/-3% on the back of lower US hog
production profit, higher China fresh pork profit, and lower China other segment profit.
(KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00288 WH GROUP
Nominal 
5.360 -0.050 (-0.924%) Others
14/08/2019 17:10
{I-bank focus}Goldman lowers WH Group (00288) to HK$9.5
| Remark: | Real time quote last updated: 16/04/2024 17:15 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |