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<Research>Nomura Trims BUD APAC (01876.HK) TP to $10.6 on Continued Softness in Sales & Profit
Recommend 6 Positive 7 Negative 2 |
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Nomura issued a research report expecting BUD APAC (01876.HK)'s 4FQ24 results to be weak, with revenue/ gross profit falling 7%/ 11% YoY. The broker believed that BUD APAC's China business will continue to be affected by sluggish beer consumption sentiment, with declining traffic in its core market's in-store channels, leading to lower expenses. In South Korea market, BUD APAC's brands are gaining local market share. Nomura lowered its FY2024-FY2026 revenue forecasts for BUD APAC by 9-14%, and standardized EBITDA forecasts by 9-17%. The broker also trimmed its target price from $13.1 to $10.6, with rating kept at Buy. AAStocks Financial News |
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