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00494 LI & FUNG
RTNominal unchange 0.000 (0.000%)

23/08/2019 17:55

{I-bank focus}Goldman lowers Li & Fung (00494) to HK$1.2

[ET Net News Agency, 23 August 2019] Goldman Sachs lowered its target price for Li &
Fung (00494) to HK$1.2 from HK$1.32 and maintained its "neutral" rating.
The research house said Li & Fung reported weaker 1H COP (core operating profits) with a
miss from supply chain solutions (SCS) business, logistics business, and onshore
wholesale. NI miss further due to higher net interest expenses.
Goldman expects 2019 COP will still be under pressure from SCS business and
restructuring cost but with the new organization in place, management believes it is
gaining market share with existing clients and with potential new clients to contribute
more into 2020, there should be productivity gains in the future as well. (KL)

Remark: Real time quote last updated: 06/12/2019 07:37
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