CLSA: CHOW TAI FOOK Transformation Helps Consolidate Industry Position, Rated Hold
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CLSA's research report on CHOW TAI FOOKhighlights the company's brand transformation and overseas expansion, which are expected to strengthen its position in the gold jewelry market. The report forecasts a 5% revenue increase for FY2026, with same-store sales growth of 6% in Mainland China and 17% in Hong Kong and Macau. Projected net profit is set to surge 50% YoY, with a net margin of 9.5%. CLSA rates the stock as Hold with a target price of HKD11.2, based on a 10x price-to-earnings ratio.
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