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《大行報告》花旗升潤啤(00291.HK)目標價至48.4元評級「買入」
阿思達克 08-19 12:02

花旗發表報告表示,華潤啤酒(00291.HK)上半年核心純利按年增長21%,增幅高過收入增長(7%)、銷量增長(升3%)及行業銷量增長(0.8%),反映其高端化的優勢及其產能合理化及員工優化計劃的初步得益。

該行指,華潤啤酒計畫於下半年加速喜力與雪花的整合,反映雪花於上半年盈利能力好過預期,喜力增長速度快於預期,以及管理層對公司高端化及盈利增長的信心增強。

花旗表示,潤啤及蒙牛(02319.HK)是中國消費必需品行業首選,決定上調潤啤2020年及2021年盈利預測各7%及9%,維持「買入」評級,目標價由45.23元升至48.4元,此相當預測2020財年企業價值對EBITDA的17倍。

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