东鹏饮料：首次覆盖 H 股并给予买入评级

E s s e n t i a l s | 03 Feb 2026 04:34:58 ET │ 23 pages Eastroc Beverage (9980.HK / 605499.SS) Initiate Coverage on H-shares at Buy CITI'S TAKE We initiate coverage on Eastroc's H-shares at Buy with a target price of HK$408.8 (at par with our TP for its A-shares). Given a limited number of high-quality beverage companies available in the HK market for global institutional investors, we expect no persistent valuation discount of its H- shares to its A-shares. We forecast NP to expand by 27%/22% in 26E/27E, ...