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<Research>UBS Raises CHOW TAI FOOK's TP to HKD18.35, Rating Buy
Recommend 2 Positive 5 Negative 0 |
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According to a UBS research report, CHOW TAI FOOK (01929.HK) logged a 4.1% YoY increase in its 2QFY26 (July to September) sales, along with domestic/ overseas growth rates of 3%/ 11.4%, meeting the broker's expectations. Same-store sales growth in CHOW TAI FOOK's Mainland China retail stores/ Mainland China franchise stores/ other market outlets also increased by 7.6%/ 8.6%/ 6.2%. Management commented that the Golden Week holiday see sales growth slightly exceed industry data and an improvement in consumer sentiment. Using the discounted cash flow method, UBS decided to raise its target price for CHOW TAI FOOK from HKD16 to HKD18.35, implying forecasted P/E ratios of 24 times and 18 times for FY26 and FY27. The company was rated as Buy. AAStocks Financial News |
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