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<Research>Haitong Int'l Trims NONGFU SPRING (09633.HK) TP to $43.94 as Tea Expected to Continue to Drive Growth in Results
Recommend 6 Positive 5 Negative 7 |
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NONGFU SPRING (09633.HK) continued to see steady and positive growth in revenue, with profitability remaining at a higher level in 1H24, Haitong International released a research report saying. From January to February 2024, the Company's packaged water business grew by 19% YoY, representing a decent sales trend. With the elimination of the disturbance of online public opinion and the Company's continuous efforts in packaged water products, Haitong International expected that the Company's packaged water business will turn around and return to a decent growth path subsequently, and that tea beverages will continue to drive results growth. Haitong International trimmed its target price from $45.11 to $43.94, with rating kept at Outperform. AAStocks Financial News |
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