[ET Net News Agency, 10 August 2020] Jefferies Research raised its target price for
Uni-President China Holdings (UPC)(00220) to HK$8.55 from HK$8.3 and maintained its "hold"
rating.
The research house said UPC's 2Q results were in line with Jefferies' expectations. For
2H to date, UPC sees a strong recovery from the beverage segment. For the noodle segment,
there is a slowdown in growth due to normalization.
Jefferies raised its net profit forecast for 2020-2022 by 1-2% on better sales
assumptions. (KL)