[ET Net News Agency, 19 August 2019] Goldman Sachs lifted its target price for China
Resources Beer (CRB)(00291) to HK$45 from HK$40.6 and maintained its "buy" rating.
The research house sees CRB offering a steady 2-3 years structural growth story from
expansion in the premium segment with Heineken's consolidation and further production
efficiency improvement.
Goldman remains positive on CRB's long-term growth story post its 1H results and
management briefing. For next the 12 months, it sees the following few catalysts ahead,
premium market share gain, 2H margin expansion from more cost savings, and VAT cut
benefits will also have full impact in 2H.
Goldman raised its 2019-21 recurring EPS forecasts by 2-6% mainly to account for the
improving cost control strategies. (KL)
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00291 CRES BEER-500
Nominal 
32.300 -0.550 (-1.674%) Research Report
19/08/2019 17:01
{I-bank focus}Goldman lifts China Resources Beer to HK$45
| Remark: | Real time quote last updated: 19/04/2024 18:00 |
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