[ET Net News Agency, 7 May 2021] Morgan Stanley lifted its target price for Budweiser
Brewing Company APAC (01876) to HK$32 from HK$31 and maintained its "overweight" rating.
The research house said BUD proved its solid premiumization strategy execution, with
market share gain and positive ASP trends in each key market in 1Q. Morgan expects the
strong momentum to continue as the company continues marketing/brand investment in driving
premium and superpremium category in the coming peak seasons.
It noted that BUD raised prices in April in both China (for core and value products)
and in Korea, benchmarking to CPI. Morgan raised its EPS forecast 3% for 2021 and 1% for
2022/23 to reflect the better-than-expected premium and above products' performance in 1Q.
(KL)
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01876 BUD APAC
Nominal 
10.040 +0.020 (+0.200%) Research Report
07/05/2021 16:25
{I-bank focus}Morgan lifts Budweiser APAC (01876) to HK$32
| Remark: | Real time quote last updated: 19/04/2024 18:00 |
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