[ET Net News Agency, 4 December 2017] HSBC Global Research lifted its target price for
Health and Happiness (H&H) International Holdings (01112) to HK$55.7 from HK$35, and
upgraded its rating to "buy" from "hold".
The research house said the option for PGT to buy back Swisse's China business would be
an overhang on the shares; however, this concern is now behind us as management recently
successfully renegotiated the option agreement with PGT, and H&H can now purchase back the
PGT option and other distribution rights for US$100m.
HSBC believes this move is value accretive for H&H as it means better returns and cash
flow, and it also thinks H&H will step up its investment in China in order to capture a
higher market share.
HSBC increased its 2017-19 core earnings estimates by 23-53%. (KL)
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01112 H&H INTL HLDG
Nominal 
10.060 -0.140 (-1.373%) Others
04/12/2017 14:09
[I-bank focus]HSBC upgrades H&H Int'l (01112) to HK$55.7
| Remark: | Real time quote last updated: 25/04/2024 18:00 |
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