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<Research>HSBC Research Raises CHOW TAI FOOK's TP to HKD19.2 on Improved Earnings Outlook
Recommend 0 Positive 3 Negative 1 |
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CHOW TAI FOOK (01929.HK)'s 1HFY26 results were in line with expectations, according to a report from HSBC Global Research. Despite a 17.5% decline in store numbers, CHOW TAI FOOK managed to trim its revenue decline from 17.5% in FY25 to 1.1% on the strength of same-store sales growth turning positive. Its same-store sales in Mainland China, Hong Kong, and Macau, and other markets reached 2.6% and 4.4% respectively in 1FH. CHOW TAI FOOK's management conservatively maintained guidance for low single-digit revenue growth for FY26, yet the company's performance YTD has already exceeded this target. HSBC Global Research lifted CHOW TAI FOOK's target price from HKD17.9 to HKD19.2 and kept the Buy rating unchanged. AAStocks Financial News |
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