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<Research>Macquarie Adds CHOW TAI FOOK's TP to HKD19.8 w/ Rating Outperform
Recommend 2 Positive 8 Negative 3 |
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CHOW TAI FOOK (01929.HK) saw same-store sales growth of its self-operated and franchise stores in mainland China increase from 7.6% and 8.6% in 2FQ26 to 21.4% and 26.3% in 3FQ26, according to a report from Macquarie. Same-store sales growth in Hong Kong and Macau also rose from 6.2% to 14.3%. The group's management expects that same-store sales during the upcoming Lunar New Year will record low- to mid-single-digit growth due to a higher base. It has also revised its full-year revenue and same-store sales growth guidance from low single digits and mid-single digits to low-mid single digits and mid-high single digits, respectively. Macquarie has elevated its target price for CHOW TAI FOOK by 5.9% from HKD18.7 to HKD19.8 and kept its Outperform rating unchanged. AAStocks Financial News |
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