《大行報告》瑞信上調潤啤(00291.HK)目標價至71元 評級「跑贏大市」
瑞信發表報告,指華潤啤酒(00291.HK)2022年上半年純利好過預期,將2022年的盈利預測上調2%,主要由於下調經營開支比率預測;上調次高檔和高檔產品銷量預測,原材料成本壓力緩解。該行將目標價從70元上調至71元,維持評級「跑贏大市」,指其銷量復甦及高端化趨勢持續,並列為內地啤酒行業首選。
瑞信估計,潤啤2021至2025年經常性淨利潤複合年增長率為24%,認為其高端化戰略執行良好,有廣泛的分銷網絡,豐富的品牌和產品組合。
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