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Yuanta Securities Upgrades China Mengniu Dairy Company to Buy From Hold, Price Target Is HK$19.90
Here's What's Concerning About China Mengniu Dairy's (HKG:2319) Returns On Capital
Major bank rating｜JPMorgan: Raised the Target Price for Mengniu to HKD 14.7, maintaining a 'Neutral' rating.
JPMorgan published a Research Report stating that Mengniu has issued a profit warning, forecasting that last year's net profit will decline by 95% to 99% year-on-year, significantly below expectations. For the fiscal year ending December 31, 2024, Bellamy is expected to record a loss, and it is anticipated that provisions will be made for impairments of the goodwill and related intangible Assets recognized against the cash generated during the year. JPMorgan predicts that Mengniu's adjusted earnings for 2024 will be between 3.85 billion and 4.25 billion yuan, a year-on-year decline of 10% to 20%, generally in line with previous forecasts. JPMorgan forecasts that Mengniu's sales for last year will decline by 8% year-on-year, and the earnings for 2024 will represent a low base for this year; however, due to the decrease in the price of fresh milk, the Industry.
【Brokerage Focus】BOCOM INTL 2025 Consumer Trend Analysis: Consumer structure further optimized and upgraded.
Jinwu Finance | BOCOM INTL released the 2025 Consumer Trend Analysis. From the beginning of 2025 to now, the consumer market has exhibited new trends different from previous years, with further optimization and upgrading of the consumption structure. 1) The popularity of Sports consumption is rising, especially noticeable in lower-tier markets. Consumers' focus on sports and health continues to increase, and this trend is particularly evident in lower-tier markets. Over 70% of stores located in lower-tier cities, such as 361 DEGREES, achieved double-digit year-on-year sales growth during the Spring Festival, indicating that Sports consumption is rapidly penetrating into lower-tier cities. 2) The combination of traditional culture and modern consumption presents an opportunity for Chinese IP to go Global. Traditional cultural elements...
[Brokerage Focus] BOCOM INTL raises MENGNIU DAIRY (02319) Target Price by 30.5%, indicating that its main Business performance is stable.
Jinwu Finance | BOCOM INTL released a research report indicating that MENGNIU DAIRY (02319) expects profits in 2024 to be between 0.05-0.25 billion yuan (with profits in 2023 at 4.81 billion yuan, a year-on-year decrease of 94.8%-99%), primarily due to impairment provisions related to brand acquisitions. The impairment affects overall profits, but the gross margin and operating profit margin have significantly improved. Moreover, the main business performance remains solid, and dividends are promised not to be affected by one-time factors. Excluding the impairments of the two companies, the company's profits for 2024 are expected to be between 4.64-5.15 billion yuan (in line with expectations), corresponding to a net income of 21.9-27 for the second half of the year.
China Mengniu Dairy Forecasts Plunge in 2024 Profit; Shares Jump 10%
bullabull : The shares are too cheap that's why they keep buying back!