Feihe Faces Sustained Earnings Pressure From China's Low Birth Rate -- Market Talk

Dow Jones01-10

0656 GMT - China Feihe's earnings likely deteriorated in 2H and are expected to continue to weaken in 2024 due to China's declining birth rate, Citi Research analysts say in a note. They expect the infant-formula maker's revenue to decline 12% on year in 2H and drop 4% in 2024. Citi opens a 90-day downside catalyst watch on the stock ahead of the release of China's population numbers for 2023, due this month, and Feihe's annual results. Citi maintains its neutral call on Feihe, whose dividend yield could be intact at 7%. It lowers the stock's target price to HK$4.00 from HK$5.10. Shares are last at HK$3.89. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

January 10, 2024 01:56 ET (06:56 GMT)

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