UBS Cuts CHINA COMM CONS TP to HKD5.7, Maintains Buy Rating
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UBS has lowered its target price for CHINA COMM CONSfrom HKD6.4 to HKD5.7 while maintaining a Buy rating. The company reported a 0.84% YoY revenue increase in Q1, but net profit fell 24.95% YoY due to declining gross margins and increased expenses. Operating cash outflow reached RMB55.1 billion, attributed to higher procurement costs. UBS revised its EPS forecasts for 2026-2027 down by 34% to 35% due to weaker-than-expected results, reflecting a shift in valuation base to 2027 with a forecast P/E ratio of 5 times.
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