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<Research>M Stanley: Resignation of CHINA RES BEER (00291.HK) Chairman Unlikely to Cause Major Strategic Changes
Recommend 7 Positive 12 Negative 6 |
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CHINA RES BEER (00291.HK) announced that Hou Xiaohai resigned as the Chairman of the Board, and the Company's President, Zhao Chunwu, will temporarily assume the responsibilities of Chairman during the transition period. Since Hou disclosed in May that he had sold his shares in CHINA RES BEER, the event may not be entirely unexpected for the market, Morgan Stanley released a research report saying. The broker believed that the change in CHINA RES BEER's chairman is unlikely to cause major strategic changes for the Company, and the market may wait for clarity regarding the succession plan. Therefore, Morgan Stanley rated CHINA RES BEER at Overweight, with a target price of $34. AASTOCKS Financial News Website: www.aastocks.com |
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