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00590 LUK FOOK HOLD
RTNominal up18.400 +0.140 (+0.767%)
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20/04/2018 14:17

[I-bank focus]Jefferies lifts Luk Fook (00590) to HK$39

[ET Net News Agency, 20 April 2018] Jefferies Research lifted its target price for Luk
Fook Holdings (00590) to HK$39 from HK$37.2, and reiterated its "buy" rating.
The research house expects Luk Fook to benefit from a recovering HK retail market on
improving mainland tourists as well as local consumption. The rebound in mainland tourists
is partly due to strong RMB year-to-date. SSSG was trending better in March and April.
China SSSG remained weak.
Jefferies revised up its FY2018/19 net profit by 1.7%/3.3% as the revise-up for HK/Macau
more than offset the revise-down for China. (KL)

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