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<Research>UBS Adds CHOW TAI FOOK's TP to $12 as Same-Store Sales Decline Narrows Last Qtr
Recommend 11 Positive 11 Negative 5 |
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CHOW TAI FOOK (01929.HK) recorded a significantly narrowed decline of 11.6% YoY in its sales for the quarter ended March 2025, according to a report issued by UBS. Specifically, the decline in same-store sales in Mainland China and Hong Kong narrowed to single digits and low double digits respectively, mainly due to a low base and resilient demand for new products. With a return on equity of 26% and a dividend yield of 6%, the broker considered CHOW TAI FOOK as undervalued. Positive catalysts for the company include a return to positive same-store sales growth and the launch of new products or series to support its GPM. UBS raised its target price for CHOW TAI FOOK from $8.5 to $12, with a Buy rating. AAStocks Financial News |
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