Furui predicts that WH Group (00288) will have an operating profit of 0.483 billion US dollars (up 76% year-on-year) in the second quarter of this year.
According to the news from Zhitong Finance APP, Furui released a research report stating that it rated WH Group (00288) as a "buy", downgrading sales forecasts for 2024 to 2026 by 6%, 7%, and 7%, respectively, raising profit forecast for 2024 by 4%, but downgrading profit forecast for 2025 to 2026 by 3% and 1%, with a target price of HKD 6.21.
Earlier, WH Group announced the proposal to spin off the Smithfield food business operated in the United States and Mexico. The bank believes that investors have already digested the relevant news and like its spin-off plan, but believes that WH Group needs to have its own value-added strategy such as share buybacks to attract investors. It predicts that the company will have an operating profit of 0.483 billion US dollars in the second quarter of this year, up 76% year-on-year, but sales will decline to 6 billion US dollars.
