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<Research>M Stanley Trims CHINA RES BEER (00291.HK) TP to $42, Rating Overweight
Recommend 7 Positive 13 Negative 3 |
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Morgan Stanley released a report, revising down its recurring net profit estimates for 2024 on CHINA RES BEER (00291.HK) by 3% to reflect a slight downward adjustment in sales expectations because of the potential impact of adverse weather on sales in 2Q24. At the same time, the gross margin forecast was lowered by 0.6 ppts due to the influence of rising packaging costs. Given the lower base this year, the broker cut its EPS forecast for 2025-2026 on the company by 3% accordingly. The target price was trimmed from $44 to $42, and the rating was Overweight. AAStocks Financial News |
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