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<Research>UOB Kay Hian: Top Picks ANTA SPORTS/ CHINA RES BEER/ HAIDILAO/ YUM CHINA on Better Consumption Momentum During CNY Holiday
Recommend 13 Positive 21 Negative 8 |
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Compared to the performance during the two Golden Weeks last year, consumption data during this year's Chinese New Year (CNY) holiday (15-23 February) reflects an improvement in domestic consumption market growth momentum, UOB Kay Hian published a research report saying. This is seen as an initial sign of overall recovery in the consumption sector, with particular attention to the performance of tourism, culture and catering sectors. The broker was optimistic about industries showing initial recovery, exposure to structural consumption growth in China, potential policy support, and overseas growth opportunities, particularly in catering, services and experiential consumption. UOB Kay Hian's top picks are ANTA SPORTS (02020.HK), CHINA RES BEER (00291.HK), CHINA DUTY FREE (601888.SH), HAIDILAO (06862.HK), MIDEA GP (000333.SZ) and YUM CHINA (09987.HK), with all rated at Buy. The broker also kept rating at Overweight for domestic consumption sector. Based on consumption and travel data during the CNY holiday, UOB Kay Hian adjusted its target prices for some stocks, and lifted its target prices for HAIDILAO/ LI NING (02331.HK)/ KWEICHOW MOUTAI (600519.SH)/ WULIANGYE (000858.SZ) to $19.7/ $21.6/ RMB1,682/ RMB115.1. AASTOCKS Financial News Website: www.aastocks.com |
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