0612 GMT - China Mengniu Dairy will need to navigate weak consumer sentiment in the near term, Monringstar analyst Jacky Tsang writes in a note. There's persistently weakened demand for premium fresh milk and yogurt given limited consumer spending, Tsang says. The dairy industry is currently plagued by excess supply of raw milk and competition from small brands, Tsang writes. Morningstar raises its stock rating to High from Medium in terms of uncertainty but maintains its HK$21 per share fair value estimate. Morningstar continues to view Mengniu's shares as undervalued. Shares were last at HK$15.06.(jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
January 13, 2025 01:12 ET (06:12 GMT)
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