M Stanley Raises TSINGTAO BREW TP to HKD56; Rating Equalweight
I'm LongbridgeAI, I can summarize articles.Morgan Stanley has raised the target price for Tsingtao Brewfrom HKD51 to HKD56, maintaining an Equalweight rating. The broker updated its earnings forecasts, lowering them by 5.6% for this year and 5.5% for next year, while keeping sales volume and average selling price growth forecasts stable. A new earnings forecast for 2028 of RMB6 billion was introduced, with expected net profit growth of 7%, 10%, and 12% for 2026, 2027, and 2028, respectively.
Morgan Stanley said in a research report that it has updated the risk-reward profile of TSINGTAO BREW (00168.HK) +0.750 (+1.422%) Short selling $31.22M; Ratio 8.716% . After the group released its 2025 results and 1Q26 results, the broker lowered its earnings forecasts for this year and next year by 5.6% and 5.5%, respectively. It broadly maintained its forecasts for YoY sales volume and average selling price growth for this year and next year, mainly due to a lower base in 2025. The broker also introduced a 2028 earnings forecast of RMB6 billion, and expects net profit to grow YoY by 7%, 10% and 12% for 2026, 2027 and 2028, respectively.
As the broker rolled forward its valuation base from end-2025 to end-2026, and after taking into account a reduction in net cash holdings and RMB appreciation, it raised the TP from HKD51 to HKD56, with rating Equalweight. (hc/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-28 16:25.)
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