Jitong Finance APP has learned that Morgan Stanley's research report stated that Bud Apac (01876) has an 'outperform' rating and has lowered its second-quarter revenue and normalized EBITDA forecasts by 6% and 9%, respectively, and adjusted its annual forecast accordingly. The target price has been revised down from HKD12.4 to HKD11.4. Considering the improvement of weather or the low base, Lyon predicts that Bud's third-quarter performance will be good.

According to the report, the company will release its second-quarter results early next month, and Lyon expects that due to the impact of Chinese weather factors, weak consumer sentiment, slow growth of high-end products, and the pressure of a high base, Bud Apac's western business will be affected; while the Asia-Pacific East is expected to achieve double-digit percentage revenue growth under the influence of low base and price increases in the South Korean market.