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00551 YUE YUEN IND
RTNominal up12.380 +0.380 (+3.167%)
Others

25/07/2019 16:42

[I-bank focus]Goldman lifts Yue Yuen Ind (00551) to HK$23.4

[ET Net News Agency, 25 July 2019] Goldman Sachs lifted its target price for Yue Yuen
Industrial (Holdings)(00551) to HK$23.4 from HK$22.1 and maintained its "neutral" rating.
The research house said Yue Yuen's non-retailing sales growth in 2Q decelerated
partially impacted by the disposal of TCHC, and Goldman currently expects operating margin
decline of 0.4ppt in 2Q for the non-retailing business due to the margin pressure caused
by production relocation and more complicated products.
Goldman revised down its 2019-21 net income by 3-5% to factor in the 2Q sales data and
the disposal of TCHC. (KL)

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