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<Research>HSBC Global Research Hikes S.F.HOLDING (002352.SZ) TP to RMB46, Lifts Profit Forecast
Recommend 2 Positive 5 Negative 1 |
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HSBC Global Research's report said that lower air transport costs and narrower losses in overseas operations underpin further margin expansion for S.F.HOLDING (002352.SZ). The broker maintained its Hold rating on the stock and raised its target price to RMB46 from RMB45.4. The broker believed that S.F.HOLDING's revenue growth stabilized, but still needs to wait for catalysts. The company's GPM rose 2.2 ppts YoY in 3Q24, mainly on lower-than-expected transport costs. The broker lowered its transport cost forecast (excluding Kerry Logistics) by 2% each year from 2024 to 2026. It also raised its net profit forecast by 4% for 2025 and 7% for 2026 to reflect better cost control. AAStocks Financial News |
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