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CHOW TAI FOOK Soars 8%; Broker Says Mgmt Expects Same-Store Sales to Pick Up Quarter by Quarter
Recommend 6 Positive 8 Negative 2 |
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CHOW TAI FOOK (01929.HK) was in demand after it announced its financial results. After opening 0.65% higher this morning, it once slipped by 2.9% to a bottom of HKD11.92, but then it managed to reverse course and climbed to an intraday high of HKD13.4 with a surge of 9.1% at one point. It last traded at HKD13.28, up 8.1%, making it the top gainer among blue chips, with a turnover of HKD207 million. This stock has already snowballed by 97.3% YTD. Citi noted that CHOW TAI FOOK's FY25 results were in line with expectations. It also remained upbeat about management's expectation of same-store sales improving quarter by quarter in FY26 and achieving mid-single-digit growth for the full year. If gold prices rise, it will likely boost growth in the company's fixed-price gold products and drive a re-rating from a blended valuation perspective. Citi kept a Buy rating on CHOW TAI FOOK and raised its target price from HKD10.2 to HKD14. AAStocks Financial News |
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