The Zhitong Finance App learned that Bank of America Securities released a research report stating that it lowered the target price of Wanzhou International (00288.HK) by 11% to HK$8.5, reaffirming the “buy” rating, while downgrading the 2026 and 2027 earnings forecasts by 8% and 11%, mainly reflecting weak US pig and pork prices, as well as Smithfield's recent further downward guidance, for the second time since August. The bank expects Wanzhou International's operating profit to drop 31% year on year and net profit to drop 38% year on year in the third quarter of 2026, but it expects a normalized dividend rate of more than 5%, and dividends are expected to provide support.
Zhitongcaijing · 2d ago
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The Zhitong Finance App learned that Bank of America Securities released a research report stating that it lowered the target price of Wanzhou International (00288.HK) by 11% to HK$8.5, reaffirming the “buy” rating, while downgrading the 2026 and 2027 earnings forecasts by 8% and 11%, mainly reflecting weak US pig and pork prices, as well as Smithfield's recent further downward guidance, for the second time since August. The bank expects Wanzhou International's operating profit to drop 31% year on year and net profit to drop 38% year on year in the third quarter of 2026, but it expects a normalized dividend rate of more than 5%, and dividends are expected to provide support.
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