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00220 U-PRESID CHINA
RTNominal up9.190 +0.370 (+4.195%)
Others

12/02/2020 17:37

{I-bank focus}HSBC raises U-Presid China (00220) to HK$10.5

[ET Net News Agency, 12 February 2020] HSBC Global Research raised its target price for
Uni-President China (00220) to HK$10.5 from HK$10 and maintained its "buy" rating.
The research house sees higher demand for instant noodles and beverages amidst the
coronavirus outbreak, as people stay home and avoid dining out.
In addition, HSBC believes the longer-term outlook for the instant noodle market in
mainland China remains favourable as annual consumption is low currently, at 28.7 servings
per capita versus Taiwan (35), Japan (45.7), and, South Korea (74), in 2018, according to
the World Instant Noodle Association.
On the back of a stronger instant noodle demand, HSBC slightly raised its 2020-21
earnings estimates by 1-2%. (KL)

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