CLSA Maintains "Hold" Rating on TINGYI, Raises Target Price to HK$13.5

Stock News03-25

CLSA has released a research report stating that it has lowered its profit forecasts for TINGYI (00322) for the current and next fiscal years by 6% and 5%, respectively. However, the firm increased the target price from HK$12.1 to HK$13.5 while maintaining a "Hold" rating. Management anticipates revenue growth in the low to mid-single digits for this year, with first-quarter performance meeting expectations. The report noted that TINGYI's revenue declined by 2% year-on-year last year, aligning with forecasts, while the gross profit margin increased by 1.7 percentage points. Net profit rose by 20.5%, exceeding expectations. CLSA projects the company's revenue to grow by 2.7% year-on-year this year, with instant noodle revenue increasing by 2% and beverage revenue rising by 3%.

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