[ET Net News Agency, 17 July 2013] Goldman Sachs raised its price target for Luk Fook
(00590) to HK$25.5 from HK$23.5, and maintained its "buy" rating.
The research house said Luk Fook's 1Q (April-June) trading update was well ahead of the
house's expectations. Goldman thus raised its FY2014-16 EPS by 8.5%, 6.3% and 4.5% to
reflect the positive update.
It believes that Luk Fook continues to deliver better operational performance than CTF
(HK SSSG +68%)(01929). It now looks for 12% NP growth for FY2014, driven by 28% top-line
growth and 14% OP growth. (KL)