UBS: Lower target price for Budweiser APAC (01876.HK) to 8.75 Hong Kong dollars, maintains "buy" rating.

Wisdom Financial APP learned that UBS released a research report stating that the third quarter revenue and adjusted EBITDA of Budweiser Asia Pacific (01876.HK) in 2025 are expected to be $1.55 billion and $438 million, respectively, representing a year-on-year decrease of 8.8% and 8.6%, lower than the bank's expectations by 1 to 3%, roughly in line with market expectations. The bank has lowered its profit forecast for Budweiser Asia Pacific from 2025 to 2027 by 7 to 9% to reflect the continued weak Chinese market and limited visibility in the fourth quarter, with recovery expected to be delayed until 2026. Based on the high-end process in the family channel, attractive valuation, and a robust cash reserve sufficient to support stable dividends in 2025, the bank maintains a "buy" rating with a target price lowered from HK$9.07 to HK$8.75.