JPMorgan: Cuts Budweiser Brewing Co. APAC (01876.HK) target price to HK$6, maintains "Neutral" rating.

Zhito Finance APP has learned that JPMorgan released a research report stating that it has updated its forecasts for Budweiser Brewing Company APAC (01876.HK) to reflect a more cautious view for the third quarter; it now expects third-quarter organic revenue and EBITDA to decline by 11% and 19% year-on-year respectively, further deteriorating from the 1% and 9% declines in the first half, and has lowered its target price from HK$6.5 to HK$6, maintaining a "Neutral" rating.