Kweichow Moutai Remains Core Holding Among in China's Consumer Stocks -- Market Talk

Dow Jones04-03

0320 GMT - Kweichow Moutai's higher earnings visibility, solid balance sheet and operating cashflow make it attractive for investors as a core holding in China's consumer sector, Citi Research analysts Xiaopo Wei and Vincent Yang said in a research note. The analysts expect market demand for Moutai products remains strong as the recent first-tier wholesale price of Moutai products continues to be resilient at CNY2,700 per bottle. Moutai is Citi's top buy in the China baijiu sector, as "it enjoys the strongest branding power, highest margins, best return-on-capital, and strongest free cash flow in China's baijiu industry, warranting a valuation premium over peers," they say. Citi maintains a buy call on Moutai and keeps its target at CNY2,272.00. Shares are last at CNY1712.02.(sherry.qin@wsj.com)

(END) Dow Jones Newswires

April 02, 2024 23:20 ET (03:20 GMT)

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Moutai is Citi's top buy in the China baijiu sector, as \"it enjoys the strongest branding power, highest margins, best return-on-capital, and strongest free cash flow in China's baijiu industry, warranting a valuation premium over peers,\" they say. Citi maintains a buy call on Moutai and keeps its target at CNY2,272.00. 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The analysts expect market demand for Moutai products remains strong as the recent first-tier wholesale price of Moutai products continues to be resilient at CNY2,700 per bottle. Moutai is Citi's top buy in the China baijiu sector, as \"it enjoys the strongest branding power, highest margins, best return-on-capital, and strongest free cash flow in China's baijiu industry, warranting a valuation premium over peers,\" they say. Citi maintains a buy call on Moutai and keeps its target at CNY2,272.00. 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