富瑞:上調青啤(0168.HK)和潤啤(0291.HK)目標價 因看好盈利前景
富瑞發表研究報告表示,看好青島啤酒(0168.HK)和華潤啤酒(0291.HK)的盈利前景,預計上半年盈利穩健增長,且勢頭可持續至下半年。富瑞視青島啤酒為啤酒股首選,上調其H股目標價13%至85港元,同時,該行亦上調華潤啤酒目標價41%至63港元。
報告指出,受惠於新產品的推出和需求的回升,預計華潤啤酒二季度銷量將恢復至中高個位數增長,由於洪災和疫情的區域性復甦,公司銷量下半年將略為放緩,但因產品結構升級,預計平均售價增長會更高。
報告又預期,青島啤酒第二季度將實現29%淨利潤增長及9%的銷售增長,因公司對疫情影響下的市場做出快速的反應,預計在非本地和食品交付渠道上可獲得更多市佔率,同時公司產品結構升級和提高效率的戰略改革正取得成效,預計下半年利潤和銷售將繼續強勁增長。
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