[ET Net News Agency, 15 November 2018] Deutsche Bank lowered its target price for Sun
Art Retail Group (06808) to HK$10 from HK$10.5 and downgraded its rating to "hold" from
"buy".
The research house believes Sun Art is the most qualified food retailer among peers to
materialize its new retail strategy in the mid to long run, but it worries that investors'
expectations might be running well ahead especially for 2019. Given its recent share price
outperformance, there is limited upside potential to DB's target price.
At 0% SSSg in 3Q, this would be an improvement from 1Q's -2% and 2Q's -1%, but DB said
it needs more than 3% SSSg in 4Q to achieve its guidance of a slight positive SSSg in
2018, unless it launches heavy promotions (which might hurt margins). (KL)
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06808 SUNART RETAIL
Nominal 
1.440 -0.030 (-2.041%) Others
15/11/2018 17:46
[I-bank focus]DB downgrades Sun Art Retail (06808) to HK$10
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