[ET Net News Agency, 18 January 2018] Citi Research lifted its target price for Sa Sa
International Holdings (00178) to HK$3.5 from HK$3, and upgraded its rating to "buy" from
"neutral".
The research house believes the company is ready to catch up with the industry recovery,
on completion of its strategy adjustment, and expects to see sales outperformance in
FY2019.
According to management, Sa Sa achieved 5% SSSG in November-December 2017 versus -0.5%
in October 2017, thanks to vastly improved store traffic. Management expects
mid-single-digit SSSG and 8-12% retail sales growth in FY2019 in HK & Macau, given
potentially more mainland China same-day visitors after the opening of HK-Zhuhai-Macau
Bridge and Guangzhou-Shenzhen-HK high-speed railway.
Citi maintained its FY2018 net profit estimates, but increased FY2019/20 net profit by
8%/14%, to reflect our higher SSSG, lower rental cost and hence higher operating profit
margin assumptions. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00178 SA SA INT'L
Nominal 
0.760 +0.020 (+2.703%) Others
18/01/2018 14:56
[I-bank focus]Citi lifts Sa Sa Int'l (00178) to HK$3.5
| Remark: | Real time quote last updated: 26/04/2024 13:31 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |