《大行報告》大摩降百威亞太(01876.HK)目標價至25元 下調盈測
摩根士丹利發表研究報告指,考慮到百威亞太(01876.HK)受到外匯影響及宏觀條件較預期弱,加上7、8月的惡劣天氣影響銷量,令今年亞太地區西部地區年銷售預測下調2%,且由於銷售去槓桿化影響銷售預測,令2023至25年的毛利率預期小幅下調0.6個百分點。該行下調集團2023至2025年的每股盈測4至6%。
該行預期,集團於亞太東部地區的業務,在沒有價格上升、競爭以及從去年第三季起的高銷售基礎的情況下,銷售仍將面臨消費稅上升的壓力。該行將集團目標價下調7%,由27元降至25元,評級為「增持」。
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