智通财经APP获悉，建银国际发布研报称，维持青岛啤酒(00168)H股目标价55.6港元，维持“中性”评级。该行指，青岛啤酒计划6.65亿元人民币收购即墨黄酒100%的股权，青岛啤酒认为这一收购将丰富产品组合，不过该行认为对公司的协同效应有限，预计短期内有微小贡献。
建银国际相信，市场的反应比较中性或有略有消极，主要原因是：1)由于啤酒和黄酒针对不同的消费群体，产品定位和销售通路不同，缺乏协同效应;2)如果收购后双方的管理风格发生冲突，交易可能会分散管理层对核心啤酒业务的注意力;3)由于目标公司规模相对较小，多元化战略不明确。
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