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RTNominal unchange58.800 0.000 (0.000%)
Research Report

30/03/2021 17:21

{I-bank focus}MacQ cuts Tsingtao Brewery (00168) to HK$86.4

[ET Net News Agency, 30 March 2021] Macquarie Research lifted its target price for
Tsingtao Brewery (00168) to HK$86.4 from HK$89 and maintained its "outperform" rating.
The research house said Tsingtao's FY2020 sales were in line, while 4Q 2020 net loss
missed. Macquarie expects Tsingtao would deliver a strong recovery this year, partially
due to an easy comparison base and catering channels reopening.
It lowered its net income estimates in 2021/2022 by 3.6%/3.5%. (KL)

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