[ET Net News Agency, 16 January 2018] Macquarie Research lifted its target price for
Sun Art Retail Group (06808) to HK$14 from HK$10, and maintained its "outperform" rating.
The research house said Taobao China completed the general offer on 12 January. Alibaba
now controls 36.16% of Sun Art, becoming the second largest shareholder after Auchan's
36.18%. It believes Sun Art will turn a new page in 2018, as new retail will serve as a
growth driver. On the other hand, the macro backdrop will offer a tailwind, given that
there is a high chance of inflation kicking in.
Macquarie raised its 2018 earnings forecast by 15% to reflect its higher SSSg assumption
and no more drag from a B2C loss. It believes Sun Art would be justified to trade at its
historical high valuation, as its new retail strategy becomes clearer. (KL)
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06808 SUNART RETAIL
Nominal 
1.560 +0.020 (+1.299%) Others
16/01/2018 16:53
[I-bank focus]Macquarie ups Sun Art Retail (06808) to HK$14
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