The analyst rating for WH Group was maintained at "Buy" due to several positive factors highlighted in the report. The company recorded a 2% year-over-year increase in operating profit for 3Q25, which aligned with Citi Research's expectations. Additionally, EBITDA and net profit grew by 13% and 15% year-over-year, respectively, surpassing expectations primarily due to one-off items like insurance claims and litigation fee reversals.
Citi Research also expressed a favorable outlook for pork prices in the US and China markets for 4Q25 and 2026, leading to a 4% increase in the 2025 net profit forecast and slight adjustments to the 2026 and 2027 forecasts. The target price was raised from $8.6 to $8.7, supported by a projected PE ratio of 7.6x and a dividend yield of 6.6% for 2026, indicating that the valuation remains attractive.
