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<Research>Citi Initiates 30-Day Upside Catalyst Watch on LAOPU GOLD (06181.HK), Sees Re-rating Potential
Recommend 21 Positive 29 Negative 19 |
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Investors concerns over the slowdown in SSSG of LAOPU GOLD (06181.HK) have already been reflected in its current valuation and earnings forecasts, Citi said in a research report. The broker explained that the company's SSS at its Beijing SKP mall store has been relatively volatile, mainly due to a higher proportion of Daigou (surrogate shopping), which usually represent price-sensitive customers. As a result, LAOPU GOLD's performance at SKP malls outperform other malls in uptrend and vice versa. Given the limited downside risk to LAOPU GOLD's profitability and the relatively positive investor reaction, the stock still has room for upward re-rating. Citi expected the 618 online promotion period from May 15 to June 20 to be an upside catalyst. The broker reiterated its Buy rating on LAOPU GOLD with a TP of HKD1,162 and placed the stock on a 30-day upside catalyst watch. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. 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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