麥格理:重申百威亞太(1876.HK)跑贏大市評級 目標價升至30.2港元
麥格理髮表研究報吿表示,將百威亞太(1876.HK)的目標價由30港元上調至30.2港元,重申跑贏大市投資評級。
報吿預測,第二季的業績結果,認為高端化仍然是今季度盈利增長的主要驅動力,再加上外匯順風,預計百威亞太將第二季度收入將錄得16.7%升幅和EBITDA增長18.9%;同時稍微提高今年年EBITDA增長1.2%至21.247億美元。
報吿指,中國正在看到強勁的高端化趨勢。根據國家統計局,中國啤酒產量在4月增長1.3%;5月下降12.5%。6月產量可能會受到區域性流行病爆發帶來輕微影響,但相信百威亞太會跑贏行業,預計第二季度銷量增長4.2%,因為在產品線擴張的推動下,優質啤酒強勁增長,加上有利的組合變化,相信平均售價可以錄得中單位數的增長。

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