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《大行報告》高盛下調潤啤(00291.HK)及青啤(00168.HK)目標價 評級維持「買入」
高盛發表報告指,雖然內地疫情仍然是重要的威脅,但內地啤酒商今年首季的經營毛利率表現普遍較預期為佳,主要是受到效率改善及產品均價提升所支持。 近期而言,該行認為穩健的定價能力及經營效率,再加上有紀律的市場投資,在今年的不明朗中可為行業提供支持,相信投資者的憂慮已大致反映於估值中,現時中資啤酒股今年預測市盈率平均為29倍,低於過去三年平均的38倍。 高盛維持對華潤啤酒(00291.HK)及青島啤酒(00168.HK)股份「買入」評級,不過目標價分別由69元及77元,下調至67元及73元;至於百威亞太(01876.HK)評級同樣維持「買入」,目標價26元不變。
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