金吾财讯 | 杰富瑞行业研报显示，临近2024年末，美国食品行业整体态势呈现收缩，其估值倍数虽较标准普尔股票估值倍数下降幅度小，但仍低于自身3年和10年平均水平，预计2025年不少大型食品公司的需求将持续疲软。截至12月14日的四周内，美国食品追踪渠道销售成绩为同比增长3.5%，销量与价格分别有2.2%的增长和1.3%的上涨。感恩节的时间节点促使多数食品销售与销量环比转好，不过好时(HSY)、家乐氏(K)、WKKellogg(KLG)、亿滋(MDLZ)、UTZ Brands(UTZ)并未在此列。西欧方面，截至12月1日的四周内销售额同比增长 2.8%，巧克力销售虽有销量下降，但好时巧克力定价优势弥补了部分损失。从空头权益和覆盖天数来看，美国食品截至12月13日平均空头权益占流通股4.5%，平均覆盖天数是4.4天。杰富瑞对关注的部分企业评级如下：味好美(MKC)因膳食相关定位优势，升为“买入”评级，目标价为77.05美元；克罗格(KR)得益于消费者驱动基本面改善，予“买入”评级，目标价为62.34美元；Utz Brands凭借强劲表现维持“买入”评级，目标价15.57美元；Vital Farms(VITL)因增长盈利潜力提升估值倍数并保持“买入”评级，目标价37.35美元；好时被认为表现不佳，目标价调整至171.76美元。
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