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<Research>BofAS Cuts CR BEVERAGE's TP to HKD11.8; 1H Results Miss
Recommend 4 Positive 4 Negative 6 |
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According to a report from BofA Securities, CR BEVERAGE (02460.HK)'s 1H25 revenue/ net profit after tax dropped by 18.5%/ 28.5% YoY, falling short of the broker's expectations. Given that CR BEVERAGE is facing intensified industry competition, coupled with its channel reforms, inventory reduction, and unfavorable product mix changes in a deflationary environment, BofA Securities has lowered its 2025-26 EPS estimates by 16% and 20%. CR BEVERAGE's target price has been cut by 11% from HKD13.3 to HKD11.8, alongside an unchanged Neutral rating. AAStocks Financial News |
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