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<Research> CLSA Raises TP for NONGFU SPRING (09633.HK) to HKD59.6, Growth Momentum Expected to Continue This Year
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CLSA published a research report indicating that NONGFU SPRING (09633.HK) has demonstrated the ability to achieve strong growth and margin expansion in its 2025 results, mainly benefiting from excellent product development, execution, and efficiency improvements. The management stated that the year-to-date performance aligns with the double-digit revenue growth target for 2026. The firm forecasts that the group's revenue and profit for 2026 will grow by 14% year-on-year. Although the gross margin may slightly decline due to upward pressure on PET prices, the improvement in operational efficiency will offset part of the impact. CLSA has raised the net profit forecasts for the group by about 1% for both this year and next year, reflecting strong sales growth and margin expansion. The target P/E ratio remains unchanged at 30x. The target price has been raised from HKD57.6 to HKD59.6, reaffirming the "Conviction List Outperform" rating. (hc/da) AASTOCKS Financial News URL: www.aastocks.com Auto-translated by third-party software This translation was auto-generated by third-party software. 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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