Haidilao's Improving Table Turnover Likely to Be Stock Catalyst -- Market Talk

Dow Jones03-28

0359 GMT - Haidilao International's table turnover rate is likely to rebound in light of upcoming holidays, which could act as a short-term catalyst for its share price, according to Nomura analysts Cathy Xiao and Jizhou Dong in a research note. China has Qingming festival in April and its Workers' Day in May, while many countries will have holidays over Good Friday and Easter. The analysts are satisfied with its 2023 operations, after looking at the hot-pot-restaurant chain's latest annual results. Downside risks include intensified competition within the sector, they said. The analysts maintain their buy rating but cut their target price to HK$20.20 from HK$20.50. Shares are up 4.6% to HK$17.64.(tracy.qu@wsj.com)

(END) Dow Jones Newswires

March 27, 2024 23:59 ET (03:59 GMT)

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