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<Research>Daiwa Adds BUD APAC's TP to $10, Rates Buy
Recommend 7 Positive 10 Negative 1 |
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BUD APAC (01876.HK) management was highly confident in capturing market share and premiumizing traditional non-consumption channels in China, according to a report from Daiwa. This confidence was bolstered by the strong growth momentum of the company's Harbin brand and cross-selling of the Budweiser brand. Given the group's heavily under-indexed market share in the home channel, the broker saw this as an easily attainable opportunity for BUD APAC, but a threat to other local Chinese players. Daiwa elevated its target price for BUD APAC from $9.85 to $10 and kept the Buy rating unchanged. AAStocks Financial News |
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