[ET Net News Agency, 10 June 2020] Huatai Research raised its target price for China
Mengniu Dairy (02319) to HK$35.4 from HK$31 and maintained its "buy" rating.
The research house thinks Mengniu's heavy promotions in February to April and its
leveraging online channel sales accelerated clearance of excess channel inventory,
resulting in its top-line recovery being ahead of schedule.
Huatai believes Mengniu's business is getting back on track rapidly. It cut its 2020 net
profit forecast by 5% to RMB3.2bn to factor in higher expenses but raised its 2021 net
profit by 7% to RMB4.8bn for stronger operation recovery momentum. (KL)
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02319 MENGNIU DAIRY
Nominal 
16.120 +0.320 (+2.025%) Research Report
10/06/2020 17:31
{I-bank focus}Huatai raises Mengniu Dairy (02319) to HK$35.4
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
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