---
title: "Research Alert: CFRA Keeps Hold Opinion On Shares Of China Mengniu Dairy Company Limited"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/280974991.md"
description: "CFRA maintains a Hold opinion on China Mengniu Dairy Company Limited, raising the target price to HKD18. Analysts project long-term revenue growth potential despite cautious consumer sentiment and competition. Revenue growth is expected to be low single digits, supported by market penetration and overseas expansion. Net margin is projected to improve to around 6% by 2026-2027. EPS forecasts remain at CNY1.28 for 2026 and CNY1.41 for 2027. The report highlights challenges from cultural factors and soft raw milk prices."
datetime: "2026-03-30T07:25:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/280974991.md)
  - [en](https://longbridge.com/en/news/280974991.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/280974991.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/280974991.md) | [繁體中文](https://longbridge.com/zh-HK/news/280974991.md)


# Research Alert: CFRA Keeps Hold Opinion On Shares Of China Mengniu Dairy Company Limited

03:25 AM EDT, 03/30/2026 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Our target price of HKD18 (up from HKD16) is 8.0x 2026 EV/EBITDA (five-year average: 13x), reflecting risks from cautious consumer sentiment and strong competition amid soft raw milk prices. We see long-term revenue growth potential for Mengniu, given China's low dairy product consumption, but cultural factors may constrain the pace of dairy adoption in China, in our view. This will likely cap Mengniu's revenue growth at low single digits, with support from higher penetration into lower-tier markets, B2B partnerships, and overseas expansion. While China's pro-birth policies may have limited success in lifting child births, they should still help slow the decline and support demand for infant milk formula, in our view. Meanwhile, we project net margin to improve to around 6% in 2026-2027 (2025: 1.9% including impairments and increased tax charges), aided by sales channel optimizations, supply chain improvements, and digitalization. We keep our 2026 EPS forecast at CNY1.28 and set 2027's at CNY1.41.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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