星展:维持百威亚太(01876)“买入”评级 目标价下调至9.4港元

智通财经
Yesterday

智通财经APP获悉,星展发布研报称,考虑到估值偏低及股息收益可观,维持百威亚太(01876)“买入”评级,目标价由9.6港元下调至9.4港元。由于中国市场的疲弱,星展将百威亚太2025财年预测盈利下调11%,2026及2027财年预测盈利各下调5%。

尽管预期百威亚太今年第三季在中国市场面临销量与平均售价压力,但认为精简的渠道库存可为第四季的潜在销量反弹铺路。百威亚太在韩国业务表现优异,主要是受到有利的品牌、渠道组合及提价措施,支持平均售价显著提升。

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