Deutsche Bank Raises XUNCE TP to HKD351, Maintains Buy
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Deutsche Bank has raised its target price for XUNCEfrom HKD85 to HKD351, maintaining a Buy rating. The bank increased revenue forecasts for this year and next to 4% and 16%, respectively, and adjusted net profit forecasts by 8% and 17%. The forecast for free cash flow CAGR was also lifted, and the terminal growth rate increased from 2% to 3%. Despite potential short-term volatility, long-term growth opportunities remain, with revenue CAGR for 2025-2028 raised from 57% to 76%.
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