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<Research>Citi Lifts MENGNIU DAIRY's TP to HKD21.1, Anticipates Operating Profit Margin to Re-expand This Yr
Recommend 5 Positive 8 Negative 2 |
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Citi has released a research report expecting MENGNIU DAIRY (02319.HK) to demonstrate a more significant cyclical earnings recovery this year compared to other large consumer staples companies in China. With the YoY sales decline stabilizing at a high single-digit level in 4Q25, it is anticipated that the full-year operating profit margin for last year will decrease by 30 bps YoY, slightly below its guidance. As raw milk prices stabilize cyclically in the middle of this year, coupled with positive operating leverage and a lower comparison base, MENGNIU DAIRY's operating profit margin is expected to re-expand this year. Citi has lifted its target price for MENGNIU DAIRY from HKD18.8 to HKD21.1 and kept the Buy rating unchanged. AAStocks Financial News |
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