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《大行報告》招銀國際輕微上調百威亞太(01876.HK)目標價至16.9元 評級「持有」
招銀國際發表報告指,百威亞太(01876.HK)第三季度收入按年上升2%、純利倒退1%,符合該行預期,但差過市場預期,投資者聚焦於南韓市場表現疲弱,但忽視亞太地區西部的穩定表現。中國市場的銷售並不差過同業,平均售價有高單位數字提升,而青島(00168.HK)則升8%、華潤啤酒(00291.HK)有低單位數升幅;百威亞太出貨量持平,而青島跌11%,潤啤有低單位數跌幅。 該行指,市場關注南韓Orient Brewery上月中加價的影響,日本品牌回歸將會加快產品高端化,將會密切注意百威亞太在南韓市場的盈利能力,能否在未來數季回升,對公司的盈利預測不變,維持「持有」評級,目標價由16.8元輕微上調至16.9元。
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