0642 GMT - Budweiser Brewing Co. APAC's 3Q revenue and profitability are likely to remain pressured, say Nomura analysts in a note. China's brewery sector has seen weakening 3Q sales momentum, they note. The beer brewer is expected to underperform China's brewery sector due to factors including unfavorable weather conditions and destocking efforts, they say. For the South Korea market, the company's margin is expected to face pressure from higher material costs, they add. Nomura maintains a buy rating on the stock, but cuts the stock's target price to 7.80 Hong Kong dollars from HK$8.60. Shares are up 1.9% at HK$5.92.
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