China Tourism Group Duty Free Profit Likely to Improve This Year -- Market Talk

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China Tourism Group Duty Free Profit Likely to Improve This Year -- Market Talk

Dow Jones04-25

0754 GMT - China Tourism Group Duty Free may see a gradual improvement in its net profit this year with international and domestic travel driving revenue growth and supporting margin expansion, says CCB International. The relaxation of the downtown duty-free policy in China will also be a near-term catalyst for the stock, analyst Anita Chu writes in a research note. However, Chu notes that it may take time for the new company management to execute their long-term business strategy and rebuild investors' trust. CCB keeps an outperform rating but raises its A-shares target to CNY99.00 from CNY71.72, and H-shares target to HK$94.00 from HK$64.60. H shares last at HK$67.30; A shares closed at CNY71.93. (kimberley.kao@wsj.com)

(END) Dow Jones Newswires

April 25, 2024 03:54 ET (07:54 GMT)

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However, Chu notes that it may take time for the new company management to execute their long-term business strategy and rebuild investors' trust. CCB keeps an outperform rating but raises its A-shares target to CNY99.00 from CNY71.72, and H-shares target to HK$94.00 from HK$64.60. H shares last at HK$67.30; A shares closed at CNY71.93. 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The relaxation of the downtown duty-free policy in China will also be a near-term catalyst for the stock, analyst Anita Chu writes in a research note. However, Chu notes that it may take time for the new company management to execute their long-term business strategy and rebuild investors' trust. CCB keeps an outperform rating but raises its A-shares target to CNY99.00 from CNY71.72, and H-shares target to HK$94.00 from HK$64.60. H shares last at HK$67.30; A shares closed at CNY71.93. (kimberley.kao@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  April 25, 2024 03:54 ET (07:54 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}