富瑞:上調青島啤酒(0168.HK)目標價至96港元 次季淨利超預期
富瑞發表研究報告指,青島啤酒(0168.HK)第二季度淨利潤超出預期,主要受產品組合升級和效率提升推動,預計公司的高盈利成長將會在下半年及未來幾年持續,維持公司為行業首選,並上調目標價13%至96港元。
富瑞表示,公司在上半年及第二季度的出色業績,得益於自去年開始的改革。通過改革,公司將資源更多集中在高增長和高回報的領域,上調對公司今年的盈利預測7%,以反映好於預期的復甦,預計公司2019-2022年淨利潤的複合年均增長率為21%,預計其他機構將在未來幾周調升對公司的盈利預測,並觸發估值重估。

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