China Feihe Has Room to Grow 2H Sales -- Market Talk

Dow Jones08-30

0804 GMT - China Feihe's 2H sales are likely to pick up, thanks to tailwinds including product launches and a higher birthrate in China, which bodes well the infant milk formula producer, CCB International analysts say. China Feihe's 1H net profit rose 11% on year due to better-than-expected gross profit expansion and a lower-than-expected selling expense ratio, they say. The brokerage raises its 2024 earnings forecast for the company by 4% to factor in better-than-expected 1H results and positive 2H margins assumptions. It upgrades the stock to outperform from neutral and lifts its target price to HK$4.50 from HK$3.40. Shares are 4.0% higher at HK$4.20.(amanda.lee@wsj.com)

(END) Dow Jones Newswires

August 30, 2024 04:04 ET (08:04 GMT)

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