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DBS: Uni-President China Holdings Ltd – Buy Target price HK$8.60

Posted on August 11, 2022August 11, 2022 By alanyeo No Comments on DBS: Uni-President China Holdings Ltd – Buy Target price HK$8.60
Short- term pains
  • UPC 1H22 net earnings declined 27.5% on COVID lockdown impacts and higher material cost trends
  • We believe gross profit margin should have largely bottomed out in 1H22, with easing material cost trends, with costs of packaging and palm oil becoming more favourable
  • We trim our earnings by 13%-18% in FY22E/23E and introduce FY24E forecasts. Retain BUY with TP at HK$8.6
Uni-President-China_10-Aug-2022_HK_CU-ResultsClick here to Download Full Report in PDF

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Research - Equities Tags:Uni-President China

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