富瑞：维持华润啤酒(00291)“买入”评级 目标价降至44.5港元
富瑞发布报告称，预计华润啤酒(00291)2023下半年纯利同比跌56%至2.39亿元(人民币．下同)，销售额升5%。该行将目标价由64.6港元下调31%至44.5港元；基于潜在的上行空间，维持“买入”评级。
报告指，预期集团2023下半年啤酒业务销售额达140亿元，同比跌1.7%，产量跌5%，主要由于高基数效应及消费环境疲弱。期内出现两极化情况，高端品牌和大众品牌均做好。料平均售价升3.8%，经常性EBIT同比增3%至3.52亿元，带动全年增18%至66.5亿元。
展望2024年，基于目前的市场环境，该行认为两极化情况将持续，料销售额同比升4.5%，整体产量持平，当中次高端及以上的品牌产量则升17%；料平均售价升4.4%。白酒业务方面，该行料2024年销售额将增长20%。
Reprinted from 引领外汇网，the copyright all reserved by the original author.
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