《大行報告》瑞銀上調百威亞太(01876.HK)目標價至28.3元 下調潤啤(00291.HK)目標價至72.7元
瑞銀表示,疫情死灰復燃,但內地啤酒業2021年全行業的高端化並未受到影響,估計將在2022年繼續,根據該行內地酒精飲料消費者調查,預期未來12個月消費者對啤酒的消費情緒為正面,加上啤酒在2021年均價上調,相信有助啤酒股2022年毛利率增長。
該行稱,雖然啤酒高端市場的競爭日益激烈,令公司銷售費用上升,但相信大品牌通過營運槓桿可減輕影響,維持百威亞太(01876.HK)、華潤啤酒(00291.HK)及青島啤酒(00168.HK)「買入」評級,百威亞太目標價由24.2元上調至28.3元,潤啤目標價則由76.55元調低至72.7元,青島啤酒目標價維持93.56元。
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