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00590 LUK FOOK HOLD
RTNominal down17.840 -0.640 (-3.463%)
Others

27/11/2020 16:50

{I-bank focus}Citi lifts Luk Fook Hold (00590) to HK$22

[ET Net News Agency, 27 November 2020] Citi Research raised its target price for Luk
Fook Holdings (International) (00590) to HK$22 from HK$21.9 and maintained its "buy"
rating.
The research house said Luk Fook's 1HFY21 revenue dropped 47% to HK$3.3bn and NP
declined by 41% to HK$291m, in line with its expectation and the profit warning on
November 20. Higher GPM on gold price surge and government subsidy related to COVID
offset the operating deleverage, hence OPM slightly improved. (RC)

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