《大行報告》高盛:潤啤(00291.HK)今年開局強勁 續列確信買入名單
高盛發表研究報告指出,潤啤(00291.HK)在去年艱難的經營環境下業績表現穩健,管理層對長期高端化和近期強勁的銷量復甦展望正面。對於今年,潤啤管理層目標在產品均價及銷量有正增長,以及經常性EBIT增長呈雙位數的情況下,期望實現中單位數收入增長。
該行上調潤啤的啤酒業務2023至2025年經常性EBIT預測介乎1%至2%,主要由於銷量增長加快、經營槓桿和成本壓力緩解;估計今年啤酒銷售增長8.2%,啤酒業務經常性EBIT增長29%,因為今年開局整體銷量復甦強勁,預料公司第二季銷量進一步強勁增長。另綜合而言,預期公司今年銷售增長17%,經常性EBIT增長44%。對公司目標價維持80元不變,續列確信買入名單,評級「買入」。
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