Bank of America Securities: Maintain the "buy" rating of Tsingtao Brewery (00168) and raise the target price to HK $96

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Bank of America Securities: Maintain the "buy" rating of Tsingtao Brewery (00168) and raise the target price to HK $96

智通财经网2023-03-23

Zhitong Finance APP learned that Bank of America Securities released a research report saying that it maintains the "buy" rating of Tsingtao Brewery (00168) and raises its earnings per share forecast for this year and next year by 7% each, reflecting the recovery of demand after the epidemic. The target price is raised from HK $94.5 to HK $96, believing that the valuation is attractive, and H-share stock prices still have room to rise. According to the report, the group's revenue, net profit after tax and core net profit after tax in the fourth quarter of last year fell by 10%, 22% and 36% respectively. Its revenue performance was slightly worse than the bank's expectations, but its profit was better than expected. At the same time, a special dividend of RMB 0.5 per share was paid, and the dividend payout ratio increased from 48% to 66%...

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According to the report, the group's revenue, net profit after tax and core net profit after tax in the fourth quarter of last year fell by 10%, 22% and 36% respectively. Its revenue performance was slightly worse than the bank's expectations, but its profit was better than expected. At the same time, a special dividend of RMB 0.5 per share was paid, and the dividend payout ratio increased from 48% to 66%...</p><p><a href=\"http://www.zhitongcaijing.com/content/detail/896969.html\">Web link</a></div></p>","source":"highlight_zhitongcaijin","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bank of America Securities: Maintain the \"buy\" rating of Tsingtao Brewery (00168) and raise the target price to HK $96</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBank of America Securities: Maintain the \"buy\" rating of Tsingtao Brewery (00168) and raise the target price to HK $96\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经网</strong><span class=\"h-time small\">2023-03-23 10:20</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div>Zhitong Finance APP learned that Bank of America Securities released a research report saying that it maintains the \"buy\" rating of Tsingtao Brewery (00168) and raises its earnings per share forecast for this year and next year by 7% each, reflecting the recovery of demand after the epidemic. The target price is raised from HK $94.5 to HK $96, believing that the valuation is attractive, and H-share stock prices still have room to rise. According to the report, the group's revenue, net profit after tax and core net profit after tax in the fourth quarter of last year fell by 10%, 22% and 36% respectively. Its revenue performance was slightly worse than the bank's expectations, but its profit was better than expected. 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