[ET Net News Agency, 25 October 2019] Goldman Sachs lowered its target price for Health
And Happines (H&H) International (01112) to HK$44.2 from HK$50 and maintained its "buy"
rating.
The research house revised down its 2019-21 net income forecasts by 5-8% to reflect the
weaker trend in Swisse trends and destocking pressure in both adult nutrition and baby
nutrition segments.
Overall 3Q is likely to be challenging, and Goldman expects more recovery to come from
early 2020 as channel disruption impact gradually tapers.
It remains constructive on the company as (1) Goldman sees it well-positioned in the
under-penetrated health supplement sector with a strong brand image and product portfolio
tailored to young consumers, and expects it to grow along with the recovery of consumption
over time; (2) its strength in mom and baby stores and strong incentives for store owners
should help cross-sell other baby products including Dodie, Good Gout. (KL)
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01112 H&H INTL HLDG
Nominal 
10.080 +0.040 (+0.398%) Research Report
25/10/2019 16:22
{I-bank focus}Goldman lowers H&H Int'l (01112) to HK$44.2
| Remark: | Real time quote last updated: 19/04/2024 18:00 |
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