0210 GMT - Budweiser Brewing Co. APAC's sales likely declined in 3Q amid lower volumes and limited average-selling-price growth, say Citi analysts in a note. The AB InBev unit's 3Q China volume likely fell 8% on year, weighed by unfavorable weather in its important markets and continuous weakness in the catering industry, they say. Its China segment average selling price likely rose just 0.5% as it increased its discounts in some channels, offsetting gains from its premiumization strategy. Meanwhile, the brewer is also set to book two significant one-off expenses in 3Q, but these won't affect its organic Ebitda, the analysts add. Citi maintains its buy rating and target price of 10.80 Hong Kong dollars. Shares are down 1.6% at HK$5.585.
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