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01929 CHOW TAI FOOK
RTNominal up10.400 +0.060 (+0.580%)
Research Report

24/11/2023 14:21

{I-bank focus}Goldman Sachs raises Chow Tai Fook to HKD12.6

[ET Net News Agency, 24 November 2023] Goldman Sachs raised its target price for Chow
Tai Fook (01929) to HKD12.6 from HKD12.3 and maintained its "neutral" rating.
The research house said it revises up FY24 NI up by 7% mainly to reflect 1H results beat
on unrealized hedging gain from gold loan while FY24 COP and FY24-26 NI was cut by 1-2% to
reflect slower sales but better opex savings. It also factored in better capital
management of less capex and faster inventory turnover. (RC)

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