高盛:料啤酒板塊明年繼續增長 升青啤(0168.HK)及潤啤(0291.HK)目標價
高盛發表研究報告指,在過去兩年中國的啤酒板塊利潤穩定擴張,主要受惠於持續高端化、平均售價在2018年成功上升及在今年受惠於增值税(VAT),料2020年行業繼續增長。該行相信,上述現像已反映營運商把策略由市佔率轉移至利潤增長,特別在過往低利潤率的中游及中端業務。
高盛表示,由於中國啤酒的平均售價持續上升及成本節省,該行將青島啤酒(0168.HK)H股及A股目標價調升8%,分別至62.7港元及61.7元人民幣;華潤啤酒(0291.HK)目標價則上調7%至48港元,重申兩股“買入”投資評級。另外,該行指百威亞太(1876.HK)在亞洲結構溢價增長,維持其“買入”投資評級,維持目標價37港元。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.