Budweiser APAC stock faces a lower Citi target of HKD 8.7

Published on 10/08/2026 at 06:38 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Budweiser APAC stock faces a Citi target cut from HKD 10.8 to HKD 8.7 on October 6. First-half EBITDA fell 8.9 percent to USD 926 million.

Budweiser APAC, KYG1674K1013, Illustration mit AI erstellt.

Budweiser APAC stock (ISIN KYG1674K1013) was last at HKD 5.675 on the Hong Kong Stock Exchange on October 2, 2026, down 4.06 percent over 24 hours. The latest analyst action came from Citi, which lowered its price target from HKD 10.8 to HKD 8.7 on October 6 while maintaining a Buy rating, according to Futubull.

Citi cuts target as China weakens

Citi also reduced its core net profit forecasts for 2026, 2027 and 2028 by 10 percent, 13 percent and 11 percent, respectively, after lowering annual sales assumptions by 2 percent, Futubull reported on October 6. The target cut matters because it places the bank's valuation view below its earlier level even as the Buy rating remains unchanged.

DBS Research had set a HKD 7.10 target and a Buy recommendation in a report dated October 2, while forecasting 2026 revenue of USD 5.775 billion and net profit of USD 441 million, according to DBS. The differing targets show that analyst views remain sensitive to China demand and cost pressure.

First-half figures show the pressure

For the six months ended June 30, 2026, revenue declined 1.4 percent organically to USD 3.171 billion, while normalized EBITDA fell 8.9 percent to USD 926 million and the margin stood at 29.2 percent, FilingReader reported on September 11. Profit attributable to equity holders rose to USD 473 million from USD 409 million in the prior-year period, creating a clear contrast between lower operating earnings and higher reported profit.

China volumes fell 6.0 percent and revenue dropped 6.4 percent during the half-year, while South Korea volumes remained flat and India continued to grow, according to FilingReader.

Charges weigh on third quarter

Budweiser APAC said on October 4 that an internal restructuring would create a USD 52 million non-underlying withholding tax expense, while overdue receivables in India prompted a USD 30 million provision for the quarter ended September 30, 2026, according to NewTimeSpace. The company said both items would negatively affect profit attributable to equity holders, and the amounts had not been reviewed or audited by external auditors.

Budweiser APAC stock stays under pressure

The HKD 5.675 price on October 2, 2026, and the 4.06 percent 24-hour decline frame the stock against weaker China demand, lower analyst targets and exceptional third-quarter charges. The next earnings date is October 29, 2026, according to InvestPane.