《大行报告》摩通下调百威亚太(01876.HK)目标价至29元 评级「增持」
摩根大通发表报告表示,百威亚太(01876.HK)首季收入按年跌39%及录得亏损,差过市场预期,且较同业逊色。该行相信主因百威亚太於高级餐饮及夜场之销售渠道的业务比重较高,故受新型肺炎的打击较大;韩国业务同样受疫情及宏观经济所影响;以及去年中国及韩国业务的基数较高所致。
该行引述百威亚太管理层指,随着内地餐厅及夜场陆续重新营业,4月份销量跌幅已收窄至17%,以及渠道存货处健康水平等;韩国业务於3月底开始亦出现改善。该行补充,即使预期百威亚太业务短期内处困境,但看好其长线前景,相信其盈利於2022年会完全复苏,维持其「增持」评级,但目标价由31元降至29元。
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