《大行報告》大和降百威亞太(01876.HK)目標價至17元 下調盈測
大和發表報告,將百威亞太(01876.HK)2023至2025年核心每股盈利預測下調3%至7%,以反映內地消費氣氛疲弱,以及南韓市場競爭加劇,目標價由20元下調至17元,維持「買入」評級。
該行指,南韓海關指公司透過本地進口商,在配額以外進口產品,因此徵收額外6,700萬美元關稅,管理層表示會於去年第四季度確認為非經常項目,認為事件對核心經營業績沒有影響。由於當地通脹放緩,相信第一季度加價的機會不大。百威亞太潛在下調亞太地區東部的價格,應有助提升市場份額。內地方面,由於比較基數高和農曆新年時點不同,估計第一季度銷量有低單位數跌幅,平均售價按年提升。
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