《大行報告》匯豐研究上調青啤(00168.HK)及潤啤(00291.HK)目標價
匯豐研究發表報告指,內地啤酒釀造廠數量下降,排名前五的企業已在高端啤酒類別中擴大市場份額,並預計此走勢會持續,主要是大型釀酒商改善其產品組合、增加場外銷售、推出新的啤酒產品、以及進軍白酒市場;上述所有因素應該提高淨利潤率,並預料到2025年,其淨利潤率擴至13.8%,前年為10.6%,但仍遠低於全球領導者的利潤率。
該行指,疫情嚴重打擊啤酒行業,料今年內有強勁的復甦,主要是顧客湧回至酒吧及餐廳,加上成本壓力由去年第三季高峰有所放緩,進一步推動盈利、以及政府正推出利好消費的政策。
該行表示,將青啤(00168.HK)目標價由90元上調至119元,潤啤(00291.HK)則由62元上調至77元,評級均為「買入」。該行另維持百威亞太(01876.HK)評級「買入」及目標價28.4元。
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