Kweichow Moutai's Sales Target Looks Achievable -- Market Talk

Dow Jones04-08

0729 GMT - Kweichow Moutai's target of 15% growth in annual operating revenue looks doable to OCBC analysts. Despite subdued consumer sentiment in China and a 20% price hike in its core products, the analysts see the liquor maker's earnings as resilient, supported by its leading position in the premium baijiu sector. The company's progressive sales? channel reform and incremental contributions from direct sales should help improve its gross profit margin as well, the analysts add. OCBC maintains a buy rating on the stock with a fair value estimate of CNY2,227.00. Shares closed down 2.8%. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

(END) Dow Jones Newswires

April 08, 2024 03:30 ET (07:30 GMT)

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