Relaunching Coverage of CR Beer With No-Moat Rating, Stable Trend, and FVE of HKD 16.9
We relaunch coverage of CR Beer with a fair value estimate of HKD 16.90 per share and no-moat and stable moat trend ratings. Our fair value estimate implies an enterprise value/adjusted EBITDA ratio of 11.7 times. On Oct. 11, 2016, the company announced that it had completed the acquisition of the remaining 49% stake of CR Snow. CR Beer now has a 100% stake in CR Snow. As we have accounted for this acquisition in our forecasts, we maintain our fair value estimate of HKD 16.90 per share.CR Beer ...
China Resources Beer Holdings Company is a property investment and investment holding company. Co. is principally engaged in retail, beverage, and food processing and distribution, textile and property investment businesses. Through its subsidiaries, Co. is engaged in supermarket operations; wholesale of merchandise; wharf and godown services; manufacturing and distributing beer products; distribution of fresh, live and frozen foodstuff, abattoir operation, acting as food agent; marine fishing and provision of ship stores and fishing supplies; and financing.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.