Jefferies Retains China Resources Beer as Top Pick Despite Profit Warning

Deep News03-12

Jefferies has issued a research report maintaining its "buy" rating on China Resources Beer (00291) with a target price of HK$35.7, continuing to list it as one of its preferred stocks. Since the company announced its interim results, the market had already anticipated a profit warning due to provisions for its baijiu business. Excluding these provisions, the company's net profit for last year would have been between RMB 5.9 billion and RMB 6.1 billion, surpassing expectations. The report further noted that, based on channel checks, China Resources Beer's beer business sales trend for January to February this year is expected to outperform peers, owing to healthy channel inventory levels.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment