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Returns On Capital Signal Difficult Times Ahead For WH Group (HKG:288)
Smithfield Sheds More Hog Operations -- Market Talk
Jianyin International: Maintains WH GROUP's "Outperform the Market" rating with a Target Price reduced to 7.2 Hong Kong dollars.
Jianyin International released a research report stating that it maintains WH GROUP (00288) as "Outperforming the Market," and has reduced its profit forecasts for the next two years by 5% and 3% respectively, lowering the Target Price from 7.5 HKD to 7.2 HKD. The upstream production cuts in WH GROUP USA are as expected, and the proposal for the spin-off of Smithfield is becoming clearer, with the aim of increasing the dividend per share in the coming years. The firm indicated that it has raised the company's operating profit margin forecast for the USA's fourth quarter from 7.9% to 8.1%. In addition, weak demand in China is putting pressure on the pork market. The price of live pigs from October to November dropped by 7.7% compared to the third quarter, which is worse than expected.
Jianyin International: Maintains WH GROUP (00288) "Outperform Market" rating, with the Target Price lowered to 7.2 Hong Kong dollars.
Jianyin International raised the forecast for the operating profit margin of WH Group USA in the fourth quarter from 7.9% to 8.1%.
Pork company sales "sprint": More than 70% of the sales target completion rate exceeds 90%. December may continue to increase volume | Industry news.
① As of the end of November, over 70% of listed pork enterprises have exceeded 90% of their target for livestock output; ② Currently, smallholders and group pig farms are accelerating their output, leading to increased market supply of Pork, with limited strength in Animal Slaughter consumption, resulting in pork prices falling below 8 yuan; ③ The output of live pigs is expected to continue increasing in December.
WH Group Shareholders Vote to List Smithfield in U.S. -- Market Talk
