Citi: Chow Tai Fook's performance last season met expectations, setting a target price of HKD 9.9 and a "Buy" rating.

Jin10 data reported on April 25, Citibank published a research report stating that Chow Tai Fook's retail sales value (RSV) in the mainland for the last fiscal quarter decreased by 10% year-on-year, showing weak performance. Although this met expectations, the data lagged behind its peers. The group's same-store sales decline in the mainland has narrowed, and the pace of net store closures has continued to accelerate and exceeded expectations. The bank indicated that due to the significant rise in gold prices in April, coupled with the price increase of fixed-price gold products at the beginning of April, it is expected that the demand for both weight-based and fixed-price gold products will be under pressure in April. The bank set a target price of HKD 9.9 for the group, with a rating of "Buy."

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)