[ET Net News Agency, 31 July 2020] Jefferies Research raised its target price for
Budweiser Brewing (BUD APAC)(01876) to HK$32 from HK$30 and maintained its "buy" rating.
The research house said BUD's 2Q results were better than market expectations. Jefferies
expects EBITDA growth to turn positive in 3Q, helped by recovering demand from
restaurant/night-life stores, healthier channel inventories, and a low base.
Jefferies revised up its earnings forecasts by 2-3% in 2020-21 to factor in margin
recovery. It forecast US$2,422mn/US$2,728mn EBITDA in 2021/2022. (KL)
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01876 BUD APAC
Nominal 
10.940 +0.220 (+2.052%) Research Report
31/07/2020 17:19
{I-bank focus}Jefferies raises BUD APAC (01876) to HK$32
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
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