China Resources Beer May Report Lower Net Profit Growth -- Market Talk

Dow Jones08-20

0829 GMT - China Resources Beer's net profit growth in the next three years is likely to come in below Jefferies' earlier projections, say its analysts Anna Ling and Lisa Liao in a research note. They cite reasons including a more conservative expectation on average selling price increase given the weak macro environment in China and a lower-than-expected margin expansion. Jefferies lowers its net profit forecast for the beer producer for 2024 to 2026 by 6%, 10% and 11%, respectively. Jefferies cut the stock's target price to HK$37.38 from HK$42.00 but maintains a buy rating. Shares ended 5.8% lower at HK$22.65. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

August 20, 2024 04:29 ET (08:29 GMT)

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Jefferies cut the stock's target price to HK$37.38 from HK$42.00 but maintains a buy rating. Shares ended 5.8% lower at HK$22.65. 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