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《大行》美銀證券升潤啤(00291.HK )目標價至35.6元 重申「買入」評級
阿思達克 08-20 11:39
美銀證券發表研究報告指出,華潤啤酒(00291.HK)今年上半年穩健的業績表明,前董事長侯孝海離任對營運影響有限;潤啤穩健的改善措施,可支持其高於同行的增長並獲得市場份額。美銀考慮到公司的非經常性收益,將其今年每股盈利預測上調15%,並將2026及2027年每股盈利預測各上調4%,因利潤率表現好於預期。該行將潤啤目標價從34.3元升至35.6元,重申「買入」評級。 美銀表示,其渠道檢查顯示,潤啤第三季至今的銷量趨勢可能略好於上半年(增加2.2%)。成本控制應是持續的利潤率驅動因素,但下半年及2026年的利潤率擴張幅度可能放緩。美銀又表示,中期來看,預期潤啤派息比率將逐步提升至60%以上。
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