Tsingtao Brewery Earnings Could Rise as Beer Sales Grow -- Market Talk

Dow Jones09-02

0501 GMT - Tsingtao Brewery's 2H sales and net profit could rise, thanks to a gradual recovery in beer sales and lower barley costs, China Galaxy International analysts write in a note. Beer consumption in China may rise on quarter in 3Q due to hot weather and the opening of night markets, they say. The Chinese brewer's 2Q net profit rose due to lower barley prices, which the analysts expect to continue in 2H. However, they note that Tsingtao's 2Q sales missed their estimates and cut the stock's target to HK$60.00 from HK$65.00 to reflect concerns about weak topline growth. They keep an add rating on the stock, which is 4.3% lower at HK$43.25. (amanda.lee@wsj.com)

(END) Dow Jones Newswires

September 02, 2024 01:01 ET (05:01 GMT)

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However, they note that Tsingtao's 2Q sales missed their estimates and cut the stock's target to HK$60.00 from HK$65.00 to reflect concerns about weak topline growth. They keep an add rating on the stock, which is 4.3% lower at HK$43.25. 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Beer ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"00168","symbol_name":"青岛啤酒股份","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2464072585","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2464072585","pubTimestamp":1725253260,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0501 GMT - Tsingtao Brewery's 2H sales and net profit could rise, thanks to a gradual recovery in beer sales and lower barley costs, China Galaxy International analysts write in a note. 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