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<Research>Daiwa: YUE YUEN IND (00551.HK) Downgraded to Hold, TP Dropped to $16.8 on Strong Shr Price Performance
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YUE YUEN IND (00551.HK) experienced a 4.6% YoY decline in OEM revenue for 4Q25, dragged down by an 8.1% drop in shipment volume, partially offset by a 5.2% increase in average selling price, Daiwa published a research report saying. The management expressed cautious views on the OEM business outlook, suggesting that average selling prices and sales volumes in 2026 may remain flat to slightly softer, with order visibility weakening to about 2-3 months. Given YUE YUEN IND's strong share price performance relative to its OEM peers since April 2025, the broker currently considered the stock's valuation reasonable compared to its peers. Therefore, Daiwa downgraded YUE YUEN IND from Buy to Hold, and dropped its target price from $19.25 to $16.8, reflecting the broker's more cautious view on shoemakers compared to apparel OEMs for 2026. AAStocks Financial News Website: www.aastocks.com |
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