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[Brokerage Focus] Bocom Intl cuts China Res Beer (00291) target price by 15.1%, citing overall weak performance in the dining market this year.
Jinwu Financial News | Bocom Intl stated that the dining channel is an important channel for beer sales (over 40%), but the overall performance of the dining market has been relatively weak this year. The challenging beer consumption environment and changing weather have also negatively impacted the beer market. China res beer (00291) has performed better than the industry, and the high-end process is still ongoing. Management stated that the company will continue to promote high-end, differentiated, and regional products. At the same time, the company will innovate in new product development, consumer channels and scenarios expansion, and marketing models. Due to short-term industry pressure, the bank has lowered its financial estimates and target price, but remains bullish on the company.
Hong Kong stock movement | Beer stocks decline in the afternoon. In October, the beer production of large-scale enterprises has once again turned to decline. Policies are expected to stimulate improvement in end demand.
Beer stocks fell in the afternoon. As of the time of reporting, china res beer (00291) dropped by 4.1%, priced at 25.75 HKD; bud apac (01876) decreased by 2.12%, priced at 7.37 HKD; tsingtao brew (00168) fell by 1.62%, priced at 48.5 HKD.
Hong Kong stocks anomaly | Most consumer stocks rise Helen of Troy (09869) up more than 7% China Feihe (06186) up nearly 6%
Most csi consumer 360 index stocks rose. As of the time of writing, Helen's (09869) rose 7.38%, at 2.62 HKD; china feihe (06186) rose 5.78%, at 5.67 HKD; zjld (06979) rose 5.55%, at 7.04 HKD.
China Resources Beer Updates Board Leadership
China Resources Beer Appoints New Non-Executive Director
China Resources Beer: Wang Chengwei Appointed as Nonexecutive Director
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markets. I believe people's will stay away from this stock.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined"){kind=small}