CICC International: Lowered target price of AB InBev Asia Pacific (01876.HK) to HK$9.4, maintains "outperform" rating.

According to the app of Wisdom Finance, CICC International released a research report stating that AB InBev Asia Pacific (01876.HK) net profit for the first quarter decreased by 18% to 234 million US dollars compared to the same period last year, although revenue was lower than expected, it generally met the expectations of the bank and the market. The bank lowered the EBITDA forecast for AB InBev Asia Pacific for the fiscal year 2025 by 2%, to account for the assumption of lower average selling price growth in Korea due to the strong US dollar. The target price was lowered from 9.5 Hong Kong dollars to 9.4 Hong Kong dollars. The bank expects the new management team of AB InBev Asia Pacific to stabilize the company's business in China through strategic shifts and bring better profit growth in the medium term, maintaining an "outperform the market" rating.