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06993 BLUE MOON GROUP
RTNominal up2.370 +0.070 (+3.043%)
Research Report

12/07/2021 17:25

{I-bank focus}Citi lowers Blue Moon (06993) to HK$12.36

[ET Net News Agency, 12 July 2021] Citi lowered its target price for Blue Moon (06993)
to HK$12.36 from HK$16.14 and maintained its "buy" rating.
The research house said due to short-term negative impact of channel reform implemented
in March (which fully integrated sales teams for online and offline channels), it does not
expect Blue Moon to expand sales significantly YoY in 1H21. However, it anticipates the
sales to ramp up substantially in 2H21, which is the seasonably peak sales season
(representing ~60% of full-year sales pre-COVID). (RC)

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