bestgameforearncrypto| UBS: Lowering Budweiser's Asia-Pacific target price to HK$13.78 and lowering its profit forecast for this year and next

UBS releases reportbestgameforearncrypto, lowered its profit forecast for Budweiser Asia Pacific this year and next by 6% and 7% respectively to reflect weak sales in China in the first half of the year, with a target price from 14.bestgameforearncrypto.92 Hong Kong dollars fell to HK$13.78.

The bank pointed out that endogenous revenue from China's business fell 2.7% year-on-year in the first quarter, and sales fell 6.2% year-on-year, but the average selling price rose 3.7% year-on-year. The report quoted management as saying that the decline in sales was mainly due to the high base of economic restart last year and the impact of adverse weather in March. Sales of the company's high-end products in China were generally stable, driven by channel expansion.

The report also quoted management as saying that high base pressure will ease in the second half of the year, which the bank believes means pressure on sales growth in the second quarter.

The bank also pointed out that due to the high base, South Korea's sales in the first quarter fell in single-digit terms in the middle of the year, but revenue increased in single-digit terms due to product price increases and product mix changes. The bank's outlook for the company in South Korea for the second quarter is positive, based on a low base and a rising local economy and moderating inflation.