《大行報告》美銀證券降百威亞太(01876.HK)目標價至21元 評級「買入」
美銀證券發表報告指,百威亞太(01876.HK)上季業績好壞參半,EBITDA符合市場預期,但由於韓國業務一次性稅務審計支出6,600萬美元,稅後利潤差過預期。有機EBITDA利潤增長好於預期,內地業務略高於預期,東亞和亞太地區業務明顯好於預期。
該行表示,基本維持百威亞太今明兩年每股盈利預測,並將目標價下調9%至21元,因為整個行業都在減價。另外,公司上調2023財年股息是一個積極的驚喜,2023財年的派息比率為82%,而2022財年為55%。雖然2024財年的派息率可能無法維持,但仍預計未來幾年的派息率將與之相近或更高。
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