[ET Net News Agency, 19 July 2018] Citi Research cut its target price for Luk Fook
Holdings (00590) to HK$34.3 from HK$37.2, and reiterated its "buy" rating.
The research house said HK & Macau SSSG accelerated to 26% in 1Q FY2019 (from 18% in 4Q
FY2018), largely in line with Citi's expectation. Mainland China SSSG remained lackluster
at -2%, on a tough base of 23% in 1Q FY2018.
Management didn't see slowdown in late June amid RMB depreciation and said momentum was
still there for July to date, but expected 2Q FY2019 SSSG to be lower than 1Q on a higher
base, while 1H FY2019 SSSG to remain at double digit.
Citi fine-tuned its forecasts, with FY2019/20/21 SSSG of 9%/5%/4% for HK & Macau and
4%/3%/3% for mainland China. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00590 LUK FOOK HOLD
Nominal 
17.760 -0.720 (-3.896%) Others
19/07/2018 17:31
[I-bank focus]Citi cuts Luk Fook Holdings (00590) to HK$34.3
| Remark: | Real time quote last updated: 19/04/2024 13:17 |
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