《大行報告》花旗下調百威亞太(01876.HK)目標價至28.1元 評級「買入」
花旗發表報告指,隨著重新開放及競爭可能加劇,百威亞太(01876.HK)去年第四季旗下南韓市場的增長放緩速度或較預期快,估計中國市場增長再次加速或是重振集團今年盈利表現的關鍵。
在中國市場高檔化再加快的情況下,該行看好百威,但同時亦留意到來自新進高檔市場的華潤啤酒(00291.HK)的競爭壓力不斷上升。花旗認為,對中國重新開放主題非常有信心的投資者,或會更為喜好華潤啤酒,因其業務全在中國。
花旗下調百威亞太目標價,由29.9元降至28.1元,相當於企業價值對EBITDA的21倍,維持「買入」評級。於中國啤酒行業中,該行的選股順序為華潤啤酒、百威亞太及青島啤酒(00168.HK)。
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