摩根大通发表研究报告指，百威亚太(01876.HK) 首季销售额及盈利分别按年下跌11%及19%，与市场预期大致相符，撇除汇兑因素后销售额及EBITDA按年下跌7.5%及11.2%，中国市场受到渠道去库存压力以及餐饮渠道表现疲软影响，而韩国市场表现较佳。
展望未来，摩通预测百威中国区销量在2025年第二季度仍将继续下跌，要到第三季度才会转正，目前预测集团今年全年销售额及EBITDA将按年增长2.9%及2.8%，维持“中性”评级，目标价从9.2元降至8.9元，对应2026年预测市盈率约17倍。(gc/a)(港股报价延迟最少十五分钟。沽空资料截至 2025-05-09 16:25。)
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