On July 30, EAST BUY fell 5.35% in regular trading, trading at HK$21.56/share, with turnover of HK$269 million. The stock reversed from earlier gains to losses during the session.
On the news front, Goldman Sachs published a research report maintaining its \"Sell\" rating on EAST BUY, raising the target price from HK$12.4 to HK$13.6 — still significantly below the current trading level. Goldman Sachs noted that EAST BUY's valuation remains elevated relative to its growth outlook and peers, while lowering its adjusted net profit forecast to reflect higher share-based compensation expenses.
The bearish call contrasts sharply with Citi's \"Buy\" rating and HK$33 target price issued days earlier. The company had previously released a positive profit alert projecting full-year net profit of RMB 5.2 billion to 5.5 billion, representing growth of over 85 times year-over-year. However, Goldman Sachs' downward revision to earnings estimates weighed on short-term sentiment, pressuring shares lower despite the strong guidance.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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