[ET Net News Agency, 17 September 2018] HSBC Global Research lowered its target price
for Luk Fook Holdings (00590) to HK$29.9 from HK$32.8, and maintained its "hold" rating as
potential de-rating could outweigh short term upside on earnings.
Despite market concerns of a slowdown in jewellery retail sales in Hong Kong/Macau and
China, the trend in the July-September period showed further acceleration in Same Store
Sales Growth (SSSG), from 26% (HK/Macau) and -2% (China) in April-June, said the research
house.
HSBC kept its flattish 2H SSSG outlook unchanged and raised its FY2019 EPS forecast by
5.3% on better margins, thanks to operating leverage on the licensing business and better
product mix in 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 
18.480 +0.060 (+0.326%) Others
18/09/2018 14:13
[I-bank focus]HSBC lowers Luk Fook (00590) to HK$29.9
| Remark: | Real time quote last updated: 18/04/2024 17:59 |
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