《大行報告》高盛:百威亞太(01876.HK)毛利率續擴張 評級「買入」
高盛發表報告指,百威亞太(01876.HK)將於2月底公布去年第四季業績,料其毛利率將持續擴張。該行考慮到集團高端及超高端細分市場的強勁增長和中國市場的較低基數,料將推動第四季銷售均價強勁增長。
撇除併購等影響,該行預計集團去年第四季內生收入增長為5.3%,正常化EBITDA增長20%。該行認為,公司股價已經反映出中國市場近期銷量疲弱的情況,目標價19元,評級「買入」。
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