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《大行報告》摩通降百威亞太(01876.HK)評級至「中性」 目標價削至14元
阿思達克 11-13 10:12
摩根大通發表研究報告指,對百威亞太(01876.HK)未來6至12個月中國消費市場的基本面前景變得更加謹慎。該行指,中國今年第三季啤酒產量較2019年水平低6.3%,白酒更比2019年水平低27.5%。百威亞太及其主要同行一直受惠於消費降級趨勢,然而,該行重置比較基數後,對明年平均售價增長的可持續性更為憂慮。 該行下調百威亞太的投資評級由「增持」降至「中性」,目標價由20元降至14元。盈利修正後,該行料集團2024至25年的銷售額和EBITDA複合年增長率分別為5%和8%。
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