Jiumaojiu International's 2H Outlook Remains Challenging -- Market Talk

Dow Jones08-27

0226 GMT - Jiumaojiu International's 2H outlook remains challenging, Nomura analysts write in a report, as the brokerage reduces the stock's target price to HK$2.30 from HK$3.20. Management expects 3Q sales to follow the weakening trend seen in 2Q after July-August sales came in below expectations, they note. The Chinese cuisine restaurant chain operator is likely focusing on introducing new products and store-level cost saving, the analysts say. However, the analysts expect to see continued sales pressure from Jiumaojiu's major brands, due to their relatively high average selling prices and intensified competition within the catering space, and maintain a neutral rating. Shares are up 1.2% at HK$2.52.(amanda.lee@wsj.com)

(END) Dow Jones Newswires

August 26, 2024 22:26 ET (02:26 GMT)

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However, the analysts expect to see continued sales pressure from Jiumaojiu's major brands, due to their relatively high average selling prices and intensified competition within the catering space, and maintain a neutral rating. 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