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<Research> Citi Lowers TP for SHENZHOU (02313.HK) to HKD75, Valuation Low, Recommends 'Buy'
Recommend 0 Positive 1 Negative 3 |
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Citi has issued a research report stating that SHENZHOU INTERNATIONAL (02313.HK) saw its net profit decline by 6.7% year-on-year to RMB5.825 billion last year, while core profit increased by 4.9% year-on-year to RMB6.08 billion, both falling short of market and Citi's expectations by 4% and 6%, respectively. The firm noted that due to weak demand prospects for sports apparel, the order growth rate is expected to slow to mid-single digits this year. Citi has revised down the company's earnings forecast for 2026 to 2027 by 11% to 13%, and lowered the target price from HKD94 to HKD75. However, considering the current valuation is at a ten-year low and the forecasted dividend yield of 5.6% is attractive in the long term, Citi recommends buying on dips with a 'Buy' rating. (ca/da) Auto-translated by third-party software This translation was auto-generated by third-party software. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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