[ET Net News Agency, 22 November 2017] Citi Research lifted its target price for Want
Want China Holdings (00151) to HK$7.44 from HK$5.5, and upgraded its rating to "buy" from
"neutral".
The research house said Want Want's positive top-line growth for two consecutive
quarters (7% in 2Q CY2017, 5% in 3Q CY2017) has demonstrated its strength of operating
recovery, fueled by improved market demand (especially in dairy & rice cracker segments),
its restructured sales organization (since 2Q 2017), a more efficient supply chain (with
lower inventory days and shortened cash conversion cycle) and its expansion into new
channels (i.e., e-commerce & export).
In addition to QoQ stabilized GP margin in 4Q CY2017 (on back of positive operating
leverage and a normalized cost base), management expects its top-line growth momentum in
2Q-3Q CY2017 to continue into 4Q CY2017-1Q CY2018 and FY2019. (KL)
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00151 WANT WANT CHINA
Nominal 
4.470 -0.040 (-0.887%) Others
22/11/2017 17:33
[I-bank focus]Citi lifts Want Want China (00151) to HK$7.44
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