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《大行報告》招銀國際下調百威亞太(01876.HK)目標價至16.8元 下調今年收入及盈利預測
阿思達克 10-20 09:53
招銀國際發表報告,將百威亞太(01876.HK)今年收入及純利預測分別下調5.8%及5.2%,同時料第三季淨銷售額錄低單位數倒退或持平,料達18億美元,而EBITDA增長則相對地平穩。該行表示,按地區來看,料亞太地區西部地區的銷售額將達15億美元,中國銷售額或錄得低單位數的下跌。整體而言,在經濟增長放緩,原物料價格下跌或有助保持盈利能力,而營運效益或對明年利潤率作出具意義的貢獻。 報告維持予百威亞太「持有」評級,下調估值基礎,由預測今年企業價值對EBITDA倍數由16倍降至15倍,較三年均值低出一個標準差,目標價相應由18.6元降至16.8元。
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