DBS Bank: raised the target price of China Resources Beer (00291.HK) to 38 Hong Kong dollars, maintaining a "buy" rating.

According to the Zhitong Finance and Economics APP, DBS released a research report stating that the profit forecast for China Resources Beer (00291.HK) for the next two years has been raised by 13% and 2% to reflect one-time income in the first half of the year, as well as better sales and profit recovery. The core profit forecast for the group this year has also been raised by 2%, with the target price increased from HK$35.6 to HK$38. The "buy" rating is maintained.