---
title: "Credit Suisse lowers Mengniu Dairy's target price to 22.6 yuan and revises profit forecasts"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/280955607.md"
description: "Futu lowered the target price for Mengniu Dairy to RMB 22.6 and reduced the earnings forecast for 2026 and 2027 by 22% to 24%. The company's net profit last year was RMB 1.545 billion, with an operating profit margin of 8%. Management expects single-digit revenue growth this year, with the liquid milk business recording high single-digit growth, while ice cream, milk powder, and cheese businesses are expected to achieve double-digit growth. Maintains a \"Buy\" rating"
datetime: "2026-03-30T04:26:22.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/280955607.md)
  - [en](https://longbridge.com/en/news/280955607.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/280955607.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/280955607.md) | [繁體中文](https://longbridge.com/zh-HK/news/280955607.md)


# Credit Suisse lowers Mengniu Dairy's target price to 22.6 yuan and revises profit forecasts

Futu Securities published a research report indicating that Mengniu Dairy (02319.HK) had a net profit of RMB 1.545 billion last year, in line with earlier profit forecasts, with an operating profit margin of 8%, which is at the median of the guidance. Management guided for a low single-digit revenue growth this year and aims to drive operating profit margin expansion through cost control and improved operational efficiency.

The company expects high single-digit growth in its liquid milk business so far this quarter, while ice cream, milk powder, and cheese businesses are expected to achieve double-digit growth; the firm anticipates that the strong growth momentum from January to February will continue into March. It has now lowered its earnings forecasts for 2026 and 2027 by 22% to 24%, based on a downward revision of the operating profit margin expansion forecast, and introduced a forecast for 2028, with the target price reduced from HKD 24.3 to HKD 22.6, maintaining a "Buy" rating

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- [MENGNIU DAIRY (02319.HK)](https://longbridge.com/en/quote/02319.HK.md)
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