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《大行報告》美銀證券上調潤啤(00291.HK)目標價至90.5元 評級「買入」
阿思達克 06-04 09:44
美銀證券發表研究報告,近日與華潤啤酒(00291.HK)管理層會面,公司稱提升高端品牌產品長遠增長目標,料高端品牌的銷售可由2020年的146萬噸,升至2025年的400萬噸,相等於年複合增長率達22%。

華潤啤酒管理層冀市佔率由2020年的20%,至2025年提升至介乎35至40%,集團有信心至2025年可成為至中國第一啤酒品牌企業(目前為第三位),並指公司正以本地品牌與國際品牌雙向平衡發展,目前國際品牌仍處於初期階段,並相信未來可透過提價來應對成本壓力。

美銀證券指,重申對中國啤酒業與對潤啤正面看法,重申對公司2020至2022年核心盈利增長可倍增,即相等於年複合增長率為39%,維持對今明兩年每股盈利預期,及升2023年每股盈利預測4%,上調對其目標價5%,由86.2元升至90.5元,重申「買入」評級。

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