Goldman Sachs: Hisense Home Appliances Q3 Results Miss Expectations, Buy Rating Maintained with HK$26 Target Price

Stock News10-27

Goldman Sachs has released a research report maintaining its "Buy" rating on Hisense Home Appliances Group Co.,Ltd. (ASX: 00921) with a target price of HK$26.

The investment bank noted that the company's third-quarter results fell short of expectations, primarily weighed down by weak domestic demand and cost inflation. Total revenue and net profit declined by 9% and 74% year-on-year respectively, missing the bank's forecasts by 4% and 67% respectively.

Goldman Sachs believes the market may react negatively to the company's third-quarter performance, but the weak domestic demand situation in the third quarter has been fully understood by the market and has already been partially reflected in the current valuation.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment