《大行》摩通降华润啤酒(00291.HK)目标价至28元 估值吸引评级“增持”

阿斯达克财经
Aug 20

摩根大通发表报告指,华润啤酒(00291.HK) 上半年收入按年增长1.2%,低于市场预期升2.2%,纯利按年跌11%,远逊市场预期料按年大致持平。啤酒平均售价仅升0.5%,逊市场预期的2%,反映集团选择以保市场份额及维持大众化市场基础为优先,而非透过削减低端销量来推高价格。摩通指出,高端化趋势仍然持续,高档及中高档啤酒销量均录得双位数增长,但步伐较市场预期慢,高档啤酒占比27%,仍不足以完全抵销...

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