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Credit Suisse | Lyon downgrades target price for Mengniu and Yili, lowering earnings forecast from 2021 to 2026.
Lyon believes that China's raw milk prices have fallen by 12% year-on-year since this year, reflecting an imbalance in supply and demand, influenced by the slower-than-expected reduction in excess production capacity. The bank's channel survey shows that demand for liquid milk has weakened, with sales in May and June falling by double digits year-on-year. Currently, more discounts are in response to weak demand passively. It is expected that product prices will return to normal after demand picks up and inventory is cleared. Lyon prefers Mengniu, based on its low valuation, unchanged leadership position, and potential to improve shareholder returns. They also believe that the stock price has reflected the challenges facing it. The bank lowered its net income forecast for Mengniu from 10% to 14% from this year to 2026 and lowered its target price to 22.
Hong Kong stock market anomaly | Mengniu Dairy (02319) rose more than 4% against the market, with the dairy product leader's free cash flow reaching a new high. The dividend ratio still has potential for improvement.
Mengniu Dairy (02319) rose more than 4% against the market. As of press time, it rose 3.75% to HKD 14.94 and the turnover was HKD 0.15 billion.
China Mengniu Dairy (HKG:2319) Investors Are Sitting on a Loss of 65% If They Invested Three Years Ago
Hong Kong stocks surge | Mengniu Dairy (02319) up more than 3%, Shanghai Milkground Food Tech plans to acquire Mengniu Cheese for 448 million yuan and has been approved.
Mengniu Dairy (02319) rose more than 3%, as of press time, up 3.57%, at HKD 14.50, with a turnover of HKD 207 million.
Global UHT Milk Market Analysis, Size, Share, Growth, Trends, and Forecasts 2024-2031: Nestle, Groupe Lactalis, Danone, and China Mengniu Dairy Co Lead the Market
CICC: It is expected that the Chinese food and beverage industry will moderately recover in the second half of the year, and H shares will favor companies such as Mengniu Dairy in the industry.
CICC released a research report stating that it is bullish on three investment themes in the second half of the year, including leading companies in high-growth tracks, stocks with high dividends, potential dividend-increasing stocks with abundant cash reserves and low valuations that are expected to see marginal improvement. The bank maintains profit forecasts and valuations for food and beverage stocks, and prefers U-Presid China (00220), Tingyi (00322), WH Group (00288), ZhenJiuLiDu (06979), China Res Beer (00291), Mengniu Dairy (02319), and Yihai Intl (01579) listed in Hong Kong. CICC pointed out that the food and beverage industry experienced weak recovery in the first half of the year.
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takai : need to see how much US ppl selling. They selling non stop hahaha