Morgan Stanley expects MENGNIU DAIRY to turn around its sales and profits this year, lowering the target price to 20 yuan and continuing to recommend "overweight."

AASTOCKS
2026.01.29 03:57

JP Morgan's research report indicates that it expects MENGNIU DAIRY (02319.HK) to see its sales and adjusted earnings rise by 2% and 17% year-on-year this year, compared to declines of 7% and 8% year-on-year in 2025. The bank believes that this year's competitive environment will become more favorable, although overall demand is moderate and faces competition from other beverages such as coffee and tea. The company is still actively optimizing its product mix and expanding new channels to regain market share. Meanwhile, the company's net profit margin is relatively low, making its earnings more sensitive to operational leverage.

The bank maintains an "Overweight" rating on MENGNIU DAIRY, lowering the target price from 22 yuan to 20 yuan, and expects strong sales during this year's Lunar New Year to serve as a short-term catalyst

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