高盛发表报告指,在参与华润啤酒业绩发布会后,对公司看法转趋更为正面。管理层重申将持续推进高端化,并已为2026年下半年餐饮渠道的逐步复苏做好产品推广及新产品推出的准备,同时重申中期派息比率目标提升至60%至70%。该行因应华润啤酒2025年经常性EBIT表现稳健,上调润啤今明两年净利预测约1%。但考虑到外围年份成本压力增加,该行将目标价由35.4港元下调至34.73港元,基于2027年预测17倍市盈率(此前为19倍);又认为现时风险回报比具吸引力,重申“买入”评级。
高盛发表报告指,在参与华润啤酒业绩发布会后,对公司看法转趋更为正面。管理层重申将持续推进高端化,并已为2026年下半年餐饮渠道的逐步复苏做好产品推广及新产品推出的准备,同时重申中期派息比率目标提升至60%至70%。该行因应华润啤酒2025年经常性EBIT表现稳健,上调润啤今明两年净利预测约1%。但考虑到外围年份成本压力增加,该行将目标价由35.4港元下调至34.73港元,基于2027年预测17倍市盈率(此前为19倍);又认为现时风险回报比具吸引力,重申“买入”评级。
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