[ET Net News Agency, 3 August 2020] HSBC Qianhai Securities Research lifted its target
price for Budweiser Brewing (BUD APAC)(01876) to HK$30.7 from HK$28 and maintained its
"buy" rating.
The research house said BUD's 1H operating metrics improved with the downstream demand
recovery. The company's market share expanded QoQ on enhanced cooperation with
restaurants.
While the ASP increase may be low due to last year's price hikes, HSBC expects the cost
pressures to ease in 3Q as more aggressive sales campaigns in August-September 2019 bring
sales to offset the impact of those price hikes.
It believes BUD will likely resume earnings growth in 3Q, given the ongoing economic
recovery and the low base in 3Q. To factor in 1H20 results, HSBC adjusted its 2020-22 net
profit estimates slightly, by 0.1%-0.3%. (KL)
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01876 BUD APAC
Nominal 
10.720 0.000 (0.000%) Others
03/08/2020 17:35
{I-bank focus}HSBC lifts BUD APAC (01876) to HK$30.7
| Remark: | Real time quote last updated: 25/04/2024 18:00 |
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