Jefferies Rates CHOW TAI FOOK Buy, TP HKD17.2
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Jefferies has rated CHOW TAI FOOKas a Buy with a target price of HKD17.2. The company expects a net profit increase of 45% to 55% for the year ending March 2026, aligning with Jefferies' forecast of 50.8% growth. Projected full-year net profit is HKD8.9 billion, with sales rising 4.2% to HKD93 billion. Growth is attributed to improved gross margins and a favorable sales mix. The same-store sales trend in Mainland China remains positive, with strong performance in gold products. Jefferies maintains a positive outlook on the stock.
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