金吾财讯 | 摩根大通在近日研报中对美国食品生产商行业进行了深入分析。研报指出，与会的11家公司首席执行官和10位首席财务官讨论的焦点更多集中在企业中期和长期展望上，而非短期业绩。摩根大通认为，这可能是因为许多食品行业投资者已经普遍认为当前季度的表现不会太理想。然而，从乐观的角度来看，这种长期焦点可能源于买方寻求在被打压且普遍不受欢迎的群体中寻找逆向长期机会。
摩根大通认为，尽管当前消费者对许多生产商的产品需求仍然疲软，但希望最糟糕的时期已经过去，未来将迎来更正常的时期。研报强调，尽管短期内收入可能面临下行风险，但从长远来看，行业有望实现更广泛的增长和表现。
摩根大通对于Kellogg(KLG)和Hormel Foods(HRL)，维持“中性”评级；对于Mondelez(MDLZ)则给予“跑赢大市”评级；对于Post Holdings(POST)，摩根大通的评级为“跑赢大市”，目标价为117.13美元；对于Smucker(SJM)，摩根大通同样给予“中性”评级，目标价为113.53美元。
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