青啤HA股挫逾7%-8% 上季多賺18%麥格理削H股目標價
青啤(00168.HK)上季多賺18%,但麥格理季績後下調青啤目標價,該股承過去兩連彈勢,今早高開升至64.8元無以為繼,掉頭向下,午後低見58.8元創五個月低,現報59.35元,倒跌7.1%,成交增至816萬股;青啤A(600600.SH)更挫8.5%報86.74元人民幣。
青啤公布,按中國會計準則,第三季純利按年升18.4%至14.15億元人民幣(下同),總收入按年升16%至98.37億元。累計今年首三季,純利按年升逾18%至42.67億元,總收入按年升8.7%至291.1億元,產品銷量按年升2.8%至727.9萬千升。
麥格理指,受惠夏季炎熱天氣和低基數效應,青啤第三季收入及純利按年增長16%及18%,優於該行預期。然而,期內毛利率和經營槓桿勢頭減弱,加上進入第四季,料季節性收益將消退,防疫限制仍將是啤酒消費風險。因此,下調青啤H股目標價近13%至70港元,評級維持「中性」。
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