[ET Net News Agency, 4 February 2021] Daiwa Research lifted its target price for China
Resources Beer (CRB) (00291) to HK$78.6 from HK$59 and reiterated its "outperform" rating.
CRB management hosted a webcast on Wednesday about its proposal to set up a JV for the
development of a property project + headquarters building in Shenzhen.
The research house lowered its 2020-22 EPS by 4-12% based on the recent profit alert
released by the company. However, it has not included the prospective one-off gains and
property JV income due to the uncertainty on the timing of the booking. (KL)