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《大行報告》匯豐研究升青啤(00168.HK)評級至「買入」 目標價上調至86元
阿思達克 03-10 13:49
匯豐環球研究發表報告,指青島啤酒(00168.HK)去年收入和純利勝預期,公司正以加價與升級產品以抵銷成本壓力,決定上調對其評級,由「持有」升至「買入」,目標價由76元升至86元。

該行指,預期青島啤酒銷售今年可錄低單位數增長,但其高端品牌產品見雙位數升幅,加上去年低基數,估計公司今年首季銷量可有35%增長。公司正改善推廣以及推出高端產品,以抵銷疫情影響。

匯豐環球研究指,青島啤酒去年銷量為782.3萬噸,按年跌3%,高於預期2%,市佔率擴大1.6個百分點至23%,利潤率升1.3個百分點至7.9%,主因成本控制和改善效率所致。原材料成本於今年較波動,但相信公司可以應對,故升今年純利預期1個百分點至8.2%。

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