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<Research>BOCI Lifts CHOW TAI FOOK's TP to HKD18.1; 2FH Outlook More Optimistic
Recommend 3 Positive 4 Negative 5 |
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CHOW TAI FOOK (01929.HK) delivered a seemingly flat performance for 1HFY26 ending September, with revenue and net profit decreasing by 1.1% and increasing by 0.1% YoY, respectively, BOCI wrote in its research report. Fundamental data, however, suggests that CHOW TAI FOOK markedly boosted average sales per store through strategic adjustments. The same-store sales growth performance from October 1 to November 18, 2025 (35.1% YoY growth in China) has validated this trend. In BOCI's opinion, while challenges are present, the robust growth momentum indicated by the data has led to a more optimistic outlook for 2FH. BOCI reiterated a Buy rating on CHOW TAI FOOK and raised its target price from HKD17.8 to HKD18.1. AAStocks Financial News |
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