＜Research＞Citi Cuts MENGNIU DAIRY (02319.HK) TP to $25.65; Rating Kept Buy

AASTOCKS

2024-07-05 14:54

Citi's research report pointed out that, in view of the feeble sales in the industry in 1H24, the broker trimmed the revenue forecast for MENGNIU ...

　　Citi's research report pointed out that, in view of the feeble sales in the industry in 1H24, the broker trimmed the revenue forecast for MENGNIU DAIRY (02319.HK) -0.360 (-2.459%) Short selling $28.05M; Ratio 25.487% for 2024 and 2025 by 5% and 9%, respectively, and the net profit forecast by 19.8% and 16%, respectively.

　　The broker expected the company's sales to remain flat YoY in 2024 and hike by 4% in 2025, and its EBIT margin to rise by 50 and 30 bps YoY to 6.8% and 7.1%, respectively. Citi lowered MENGNIU's target price from $31.9 to $25.65, maintaining its Buy rating.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-05 12:25.)

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