Kweichow Moutai’s Higher-Than-Expected Price Hike Lifts Our FVE By 8% to CNY 660
We are raising our fair value estimate for wide-moat Kweichow Moutai by 8.2% to CNY 660 per share from CNY 610 to factor in a higher-than-expected price hike for 2018. The company will raise its Moutai liquor ex-factory price by 18% to CNY 969 per bottle (from CNY 819) in 2018, which is higher than our previous 10% price increase assumption. Moutai is also guiding for 2017 earnings to be slightly better-than-expected, with revenue and net profit up 50% and 58% year on year, respectively. This me...Kweichow Moutai is engaged in the manufacture and sale of "Guizhou Moutai" series distilled spirits; manufacture and sale of beverages, food and packaging materials; development of anti-counterfeiting technologies; and research and development of relevant IT products. Through its subsidiaries, Co. is also engaged in the wholesale of agricultural vice-local products, building materials, decoration materials, metal materials, machineries, electronic products, telecommunication products, hardware, rubber products, general merchandises and furniture. Co.'s products include millesimes liquor, gift liquor, common liquor and other liquor series.
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.