匯豐研究:升潤啤(0291.HK)目標價至39港元 評級“持有”
匯豐環球研究發表報告指,華潤啤酒(00291.HK)發盈喜,預料去年淨利潤按年最少增長30%,主要由於實施產能優化所產生的固定資產減值虧損比去年減少,效率提升令成本節省,以及自去年4月29日完成收購喜力中國以來所作出的貢獻等。該行指根據其早前的預測,潤啤去年的淨利潤應按年增長約65%至16億元人民幣,高於集團的預計。
該行表示,潤啤在今年將聚焦於與喜的產品及集團的銷售渠道進行協同,由於今年為喜力首年完全融入至集團,預料喜力的渠道擴展及在終端客户的受歡迎程度將會是市場的關注點。
匯豐研究上調對潤啤股份目標價,由34港元升至39港元,評級維持“持有”。該行預計,集團去年在高檔啤酒銷售的按年增長將會超逾其他同價位品牌,推動其自有品牌產品均價按年上升6%,成為集團主要的收入增長動力。

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