[ET Net News Agency, 12 September 2018] Citi Research lowered its target price for Sa
Sa International (00178) to HK$4.1 from HK$5.5, and maintained its "buy" rating.
The research house believes that July and August SSSG in HK and Macau has slowed to
low-teens from June quarter's 25%, and came in slightly below Citi's expectation of
mid-teens for the September quarter.
Contrary to investors' perception that RMB deprecation should hurt tourism consumption,
Citi believes that sales to mainland tourists still grew 20% supported by strong traffic,
while sales to local customers turned flattish under the weakening consumption sentiment
on macro uncertainties.
Citi cut its FY2019-21 net profits forecasts by 7-9% to reflect lower SSSG of 11%/5%/4%
(from 14%/5%/4%). (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00178 SA SA INT'L
Nominal 
0.740 -0.010 (-1.333%) Others
12/09/2018 17:20
[I-bank focus]Citi lowers Sa Sa Int'l (00178) to HK$4.1
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