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00973 L'OCCITANE
RTNominal unchange29.500 0.000 (0.000%)
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02/07/2020 17:31

{I-bank focus}Jefferies lowers L'Occitane (00973) to HK$16.7

[ET Net News Agency, 2 July 2020] Jefferies Research lowered its target price for
L'Occitane International (00973) to HK$16.7 from HK$20.4 on earnings revisions and
maintained its "buy" rating.
The research house said L'Occitane's FY2020 results were in line with the preliminary
announcement. Due to Covid-19, the company did not provide FY2021 guidance. But Jefferies
expects sales to decline in double digits, with a loss in 1H FY2021 and performance
recovering in 2H FY2021.
Jefferies lowered its net profit forecast by 31% for FY2021 and 23% for FY2022. (KL)

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