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CHINA RES MIXC Rallies 4.2% as BofAS Says Recent Shr Pullback Offers Buying Opportunity
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CHINA RES MIXC (01209.HK) opened flat today, hitting an intraday high of HKD43.38, and last quoted at HKD43.12, up 4.2%, with turnover of 3.2418 million shares, involving HKD139 million. BofA Securities published a research report on CHINA RES MIXC. The recent share price pullback of the company has created a buying opportunity for the market. According to its channel checks, the company’s SSSG in May was expected to sharply outstripped the market, which may partially ease concerns over further growth slowdown caused by weak consumption in Mainland China. Given the company’s solid growth since the beginning of the year and its ability to benefit from new consumption trends through tenant management, it is well positioned to withstand overall consumption volatility. The broker expected the company’s SSSG to touch high single digits this year. China’s consumption support measures and the potential further stabilization of the property market will serve as short-term catalysts for CHINA RES MIXC. BofA Securities maintained its Buy rating with a TP of HKD51. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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