BofA Securities: Cuts Tsingtao Brewery (00168.HK) Target Price to HK$46.5; Q3 Net Profit Below Expectations

Zhito Finance APP has learned that BofA Securities issued a research report stating that Tsingtao Brewery Company Limited (00168.HK)'s performance was affected by the slow recovery of the catering industry and abnormal weather during the summer peak season. Third-quarter revenue was broadly in line with expectations, but was dragged down by rising cost pressures and negative operating leverage. Net profit for the period was below expectations, and the profit margin also declined year-on-year; the bank lowered its target price from HK$53 to HK$46.5 and reiterated its "Buy" rating. The bank lowered its earnings per share forecasts for Tsingtao Brewery Company Limited for 2026 and 2027 by 8% each, respectively, and made the above target price adjustment.