东方证券研报指出，千味央厨加大线上推广，有望参与京东餐饮即时零售。目前公司C端业务主要通过电商平台与KA商超的自有品牌定制渠道开展。电商实质上是餐饮零售化的转化，公司主要围绕适合于家庭便捷加工、1-3人食用的规格，聚焦于营养健康早餐和年节产品的开发，通过线上销售渠道，拓展C端业务，同时提升品牌认知；在KA自有品牌定制渠道上，公司从选购商品变为定制产品、联合研发，积极发挥公司多年积累的大客户服务经验、强大的研发能力、快速响应能力等优势。25Q1销售费用率同比提升2.12pct，主因公司阶段性加大线上推广费用。由于公司预期业绩增速仍快于大部分其他可比公司，在可比公司25年25倍PE基础上维持15%溢价，对应目标价30.45元，维持“增持”评级。
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