China Resources Beer May Gain Market Share in Premium Segment -- Market Talk

Dow Jones03-19

0306 GMT - China Resources Beer could gain more market share in its premium beer segment thanks to its strong distribution network and Heineken's strong brand image, Nomura analysts say in a note. They note that Heineken and Snow Draft Beer delivered promising sales growth in 2023 and China Resources aims to achieve a total sales volume of 1.2 million tons in the next five years as the company expects Heineken's sales to grow rapidly over that period. Nomura raises the stock's target price to HK$45.00 from HK$42.40 and maintains a buy rating. Shares last at HK$37.55.(amanda.lee@wsj.com)

(END) Dow Jones Newswires

March 18, 2024 23:06 ET (03:06 GMT)

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