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RTNominal down8.330 -0.070 (-0.833%)

10/07/2020 15:25

{I-bank focus}JEF ups Uni-President China (00220) to HK$8.3

[ET Net News Agency, 10 July 2020] Jefferies Research raised its target price for
Uni-President China (UPC)(00220) to HK$8.3 from HK$7.8 and maintained its "buy" rating.
The research house expects UPC to report a 7% rise in net profit to RMB1.07bn on a 1%
rise in sales for 1H to RMB11.6bn. This includes a disposal gain (amount not disclosed)
booked in 1Q.
For 2Q, Jefferies expects net profit growth of 4% to RMB643m with overall sales growth
to be better than 1Q as the decline in the beverage will not be as severe as in 1Q. Based
on the trend and 1Q results, Jefferies raised its net profit forecast for 2020-22 by 4-6%
with sales assumptions unchanged. (KL)

Remark: Real time quote last updated: 03/08/2020 17:58
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