华润饮料(2460.HK):天高海阔 引领成长

国泰君安
Oct 27, 2024

本报告导读:在包装水行业持续成长背景下,公司凭借高性价比的打法、引领家庭用水升级的布局、渠道力的改善以及自有产能的提升有望取得超额收益,同时饮料新品值得期待。投资要点:首次覆盖,给 予“增持”评级。预计 2024-2026 年 EPS 分别为0.70/0.79/0.88 元,同比+23%/12%/11%,参考农夫山泉、康师傅控股及东鹏饮料给予2025 年21.6X PE,给予公司目标价17.06 ...

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