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00341 CAFE DE CORAL H
RTNominal unchange7.750 0.000 (0.000%)
Others

04/01/2018 17:39

[I-bank focus]MacQ starts Cafe De Coral (00341) at HK$26.33

[ET Net News Agency, 4 January 2018] Macquarie Research initiated coverage on Cafe De
Coral (00341) with an "outperform" rating, and a target price of HK$26.33.
It noted that Cafe de Coral is a leading quick service restaurant (QSR) and fast casual
chain that aims to provide the best value-for-money meal in Hong Kong. With solid local
consumption serving as its backbone the research house expects to see steady revenue
growth momentum ahead.
Macquarie also likes the company's multi-brand strategy where it has demonstrated
impressive own brand development capability and strategic franchise partnerships to fill
in the gaps in its brand portfolio. Overall, it deemed Cafe de Coral a defensive HK play
with a decent dividend yield. It expects the company to deliver a 9% FY2017-20 earnings
CAGR. (KL)

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