[ET Net News Agency, 13 April 2018] Citi Research lifted its target price for China
Resources Beer (CRB)(00291) to HK$45.33 from HK$41.5, and reiterated its "buy" rating.
The research house cited local press reporting that CRB's parent CR Group has entered
into a strategic alliance agreement with Tencent (00700). Citi thinks the strategic
collaboration of Tencent with CR Group will empower CRB with more innovative digital
marketing, better access to e-commerce channels (including Tencent's eco-system
companies), deeper consumer insight and more efficient supply chain management, all of
which are essential to CRB's premiumizarion strategy.
CRB has mainly utilized digital marketing for its launch of "Super X", which is targeted
at middle-upper segment with a focus on young consumers. Citi believes the strategic
collaboration will give CRB a significant competitive advantage over Tsingtao (00168).
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00291 CHINA RES BEER
Nominal 
24.400 +1.050 (+4.497%) Others
13/04/2018 15:36
[I-bank focus]Citi lifts CR Beer (00291) to HK$45.33
| Remark: | Real time quote last updated: 20/09/2024 12:55 |
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