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<Research>Citi Lifts CHINA FEIHE (06186.HK) TP to $7.1, Rating Buy
Recommend 5 Positive 6 Negative 4 |
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Citi released a research report on CHINA FEIHE (06186.HK), which recorded flat YoY net profit in 2H24, with revenue and GPM missing expectations, though the final dividend met forecasts. Looking ahead to 2025, management expressed confidence in achieving revenue growth, stable profit and a 10% hike in dividend. Citi noted that the company is likely to ride on potential positive news related to birth-rate stimulus measures. The broker raised its net profit forecasts for the group by 3% for 2025 and 15% for 2026, reflecting upward revisions to revenue projections and expectations of a lower effective tax rate. The target price was raised from HKD6.5 to HKD7.1, equivalent to a 14x 2025E P/E, with the Buy rating maintained. AAStocks Financial News |
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