China Mengniu Dairy Attractive Despite One-Off Losses -- Market Talk

Dow Jones2025-02-19

0927 GMT - China Mengniu Dairy remains attractive despite one-off losses, Jefferies analysts say in a note. The company expects to report 2024 net profit of 50 million yuan to 250 million yuan due mainly to subsidiary Bellamy's impairment. The analysts note the higher-than-expected provisions and short-term headwinds, such as weak consumer demand and raw milk supply-demand imbalance, but say the concerns appear to be priced in. They expect the dairy company to sharpen its focus on its core business and improve management execution moving forward. Jefferies keeps a buy rating on the stock, with a target price of HK$28.40. Shares closed 10% higher at HK$17.26. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

February 19, 2025 04:27 ET (09:27 GMT)

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They expect the dairy company to sharpen its focus on its core business and improve management execution moving forward. Jefferies keeps a buy rating on the stock, with a target price of HK$28.40. Shares closed 10% higher at HK$17.26. 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