[ET Net News Agency, 29 July 2020] Goldman Sachs trimmed its target price for SJM
Holdings (00880) to HK$9.9 from HK$10 and maintained its "buy" rating.
The research house said SJM's HK$784mn EBITDA loss in 2Q was inline with Goldman's
estimate. On results, Goldman revised its FY2020/21-22 EBITDA for SJM by 20%/<1%.
Despite the stock's outperformance over the last 3 months, Goldman believes it will
benefit in time from a resumption of IVS (individual visit scheme) application by the
Guangdong government in the coming months. (KL)