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Hong Kong Stock Concept Tracking | Pig prices rise and costs decrease, the "scissors difference" expands, and many pig companies' profitability recovers. Is the turning point of the cycle here? (Attached Concept Stocks)
According to the sales report released by the pig industry, the recovery of pork prices has brought sustained repair of corporate profitability.
Credit Swiss: Rated WH Group as "buy", target price 6.21 Hong Kong dollars.
Furui released a research report that gave a "buy" rating to WH Group (00288), with sales forecasts lowered by 6%, 7%, and 7% for 2024 to 2026, an increase of 4% for 2024 profit forecasts, but a decrease of 3% and 1% for 2025 to 2026 profit forecasts, with a target price of HKD 6.21. Earlier, WH Group announced its proposal to split off Smithfield Foods' business in the United States and Mexico. The bank believes that investors have absorbed the relevant information and like its spin-off plan, but think that WH Group needs to have its own value-added strategy, such as share buybacks to attract investors.
Credit Suisse: Rated WH Group (00288) as 'Buy' with a target price of HKD 6.21.
Furui predicts that WH Group (00288) will have an operating profit of 0.483 billion dollars in the second quarter of this year (+76% YoY).
HK Stock Market News: WH Group (00288) rose more than 3% in the afternoon and plans to spin off Smithfield for independent listing. This restructuring is expected to lead to a reassessment of WH Group's valuation.
WH Group (00288) rose more than 3% in the afternoon. As of press time, it rose 2.06% to HKD 5.46 with a turnover of HKD 71.9701 million.
[Brokerage Focus] Agricultural Bank International maintains a "buy" rating for WH Group (00288), indicating that Smithfield's listing still faces uncertainties.
Jingu Financial News | Agricultural Bank International issued a research report stating that WH Group (00288) announced plans to spin off Smithfield Foods' business in the United States and Mexico and list it separately on the NYSE or NASDAQ. The group has not yet set a timetable or market valuation. Some consumer goods companies have already listed their subsidiaries in the United States, notable examples include Anta (02020) listing its subsidiary Amer Sports (AS US) in early 2024. The bank believes that the successful listing of subsidiaries will encourage Chinese consumer goods companies to follow suit and enhance their overseas business.
Wh Group (00288) rose more than 3% in Hong Kong stocks. It plans to spin off Smithfield for independent listing in the United States.
Zhongtong Finance APP learned that WH Group (00288) rose by more than 3%, as of press time, up 3.06%, at HKD 5.39 with a turnover of HKD 94.5076 million. In terms of news, WH Group recently announced that it proposed to split its Smithfield food business operated in the United States and Mexico and spin it off as an independent listing on the New York Stock Exchange or NASDAQ Stock Market. It is currently expected that after the completion of the spin-off, Smithfield USA and Mexico will still be subsidiaries of the company. CICC believes that if the subsidiary is listed separately, it is expected to increase dividends to the parent company and further increase WH Group's dividends.
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