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<Research>Citi Lifts HENGAN INT'L (01044.HK) TP to $27, Rating Neutral
Recommend 1 Positive 2 Negative 4 |
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Citi Research issued a research report raising its 2025-2027 net profit forecasts for HENGAN INT'L (01044.HK) by 12.1%/ 18.8%/ 19.7% each, mainly due to the lowered SG&A/ sales ratio assumptions, reflecting key points derived from its recent conference in China, including the expectation that the Company will recover from a low base in 2H25, with a stable outlook for 2026. Due to the valuation benchmark rollover from 2025 to 2026, Citi Research lifted its target price for the Company from $23.1 to $27 based on the SOTP valuation method, implying that its forward PE ratio for the next year remains unchanged at 11x. The broker also believed that, without significant structural improvements, HENGAN INT'L remains a yield-generating company (5.4%), with rating kept at Neutral. AASTOCKS Financial News Website: www.aastocks.com |
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