China Resources Beer (OTCMKTS:CRHKY) Downgraded by Zacks Investment Research to Sell
Zacks Investment Research cut shares of China Resources Beer (OTCMKTS:CRHKY – Get Rating) from a hold rating to a sell rating in a report published on Wednesday morning, Zacks.com reports.
According to Zacks, “China Resources Enterprise, Limited is engaged in retail, beverage, food processing, distribution, and property investment businesses. The retail business of the Company includes the operation of supermarket and logistics, retail stores and other stores for the distribution of traditional Chinese arts and crafts products, antiques, luxury goods, nutritious products, pharmaceutical products and general merchandise. Its beverage business provides breweries and purified water. The company’s food processing and distribution business engages in the research and development, production, processing, wholesale, retail, transportation, and international trading of food products, abattoir and livestock raising operations. It provides meat products and aquatic products. The company’s investment property business owns rental property portfolio for commercial, retail, industrial, and office use. China Resources Enterprise, Limited is based in Wanchai, Hong Kong. “
Separately, The Goldman Sachs Group raised shares of China Resources Beer from a buy rating to a conviction-buy rating in a research report on Tuesday, December 7th.
OTCMKTS CRHKY opened at $12.40 on Wednesday. The company’s 50 day moving average is $14.36 and its 200-day moving average is $15.19. China Resources Beer has a 12-month low of $10.82 and a 12-month high of $18.95.
China Resources Beer Company Profile (Get Rating)
China Resources Beer (Holdings) Company Limited, an investment holding company, manufactures, distributes, and sells beer products under the Snow and Heineken brands. As of December 31, 2020, it operated 70 breweries in 25 provinces, municipalities, and autonomous regions in Mainland China. The company was formerly known as China Resources Enterprise, Limited and changed its name to China Resources Beer (Holdings) Company Limited in October 2015.
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