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<Research>Citi Expects LAOPU GOLD (06181.HK) Core Customers to Remain Solid w/ Rating Buy
Recommend 19 Positive 19 Negative 15 |
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During the April promotional campaign at LAOPU GOLD (06181.HK)'s SKP boutiques, same-store sales are estimated to record a double-digit decline due to the loss of entry-level price-sensitive customers after recent drop in gold prices, Citi Research issued a research report saying. However, its core customer base remained stable. The broker expected smaller same-store sales declines at LAOPU GOLD's other stores, given different customer demographics and promotion schedules. Citi Research believed that investors have been concerned about same-store sales performance for some time and that the current valuation is undemanding. Therefore, the broker kept rating at Buy on LAOPU GOLD. Auto-translated by AI AASTOCKS Financial News |
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