Jiumaojiu's Strategy Shift in 2H May Help Improve Financial Performance -- Market Talk

Dow Jones07-23

0323 GMT - Jiumaojiu's strategy shifts in 2H may improve the restaurant operator's financial performance, although investor sentiment remains cautious, according to Jefferies analysts Lisa Liao and Anne Ling in a research note. The analysts think management's focus on providing better quality products, and diversifying its offerings in 2H, rather than continuing price competition, is a positive move. However, they remain cautious as no obvious turnaround was observed in the first half of July and growth is expected to normalize with a more cautious expansion approach. Jefferies has a hold rating, and a target price at HK$4.10. Shares are 2.9% lower at HK$2.97. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

July 22, 2024 23:23 ET (03:23 GMT)

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