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《大行報告》大和下調青啤(00168.HK)目標價至86元 上季純利勝預期
阿思達克 10-30 11:59
大和發表報告指,青島啤酒(00168.HK)第三季收入符預期,由於產品均價增幅較預期理想,純利勝於預期。第三季集團純利錄14.8億元人民幣,較該行預測高出約2%。該行對公司持續高端化和產品組合增強的潛力充滿信心,又認為當前估值處於低位,具理想的風險回報。該行認為,11月的大麥成本議價可能會成為近期股價的催化劑,重申「買入」評級,H股目標價由96.6元下調至86元。 該行表示,由於集團的產品組合不斷增強,對其2024年平均售價的改善仍持建設性態度。該行認為公司的銷量增長在宏觀環境中將會受壓,下調集團2024及25財年的每股盈測3%至5%。
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