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港股異動丨啤酒股走強 疫情短期衝擊不該長期向好趨勢
格隆匯 03-05 15:28
格隆匯3月5日丨港股市場啤酒股走強,其中華潤啤酒(0291.HK)和青島啤酒(0168.HK)均漲超5%。中信建投發研報指,新冠肺炎疫情對啤酒行業中長期增長邏輯不構成衝擊,短期看今年銷量可能有損失,從而影響了今年的業績表現,但噸價上行、淨利潤率上行的趨勢並不改變。中信證券認為,2020年華潤啤酒調整融合基本完成,高端化戰略加速推進。產品上,一方面公司自有品牌中高端產品日趨成熟,另一方面借力喜力旗下經典喜力(Heineken)、太陽(SOL)、亡命之徒(Desperados)等中高端品牌進一步完善產品矩陣,提升公司高端渠道開發能力;銷售方面,公司全國經銷商網絡分佈廣泛,有望助力喜力旗下品牌全國拓展。故而維持其買入評級,目標價46.5港元。
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