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《大行報告》野村上調青啤(00168.HK)目標價至80元 料次季穩健復甦
阿思達克 07-29 09:57
野村發表報告表示,內地啤酒行業自4月份以來快速復甦,當中第二季銷量按年升9.9%,相對於首季按年下跌33.8%,而該行預期青島啤酒(00168.HK)料次季穩健復甦,估計其今年第二季銷量按年升9%,及平均單價升3%以反映加價及產品組合升級的因素。

該行指,青啤首季銷量按年跌25%,較行業平均34%跌幅為優勝,估計其上半年銷售按年下跌4%,更料下半年銷售錄正增長。該行上調青島啤酒2020至2022年度盈利預測5%至28%,以反映強勁復甦及毛利率改善,故目標價由55.4元升至80元,此按現金流折現率作估值,維持「買入」評級。

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