Golden data July 19, according to CICC report, the target price of Pao Pao Mart (09992.HK) was raised by 21.6%, from HK$37 to HK$45, maintaining a rating of 'outperforming the market'. Pao Pao Mart issued a profit forecast for the first half of 2024, expecting sales and net profit to increase by no less than 55% and 90% year-on-year, exceeding market expectations. The rapid yükseliş in revenue and profit is benefited from Pao Pao Mart's continuously enhanced brand equity and cost optimization measures. Therefore, CICC has raised its sales forecast for 2024-2026 by 5-7% and also increased the net profit forecast by 18-26%, reflecting better-than-expected profitability in the first half of this year and an improvement in the full-year outlook.
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Citigroup: Bubble Mart Target Price Raised by 22%, Maintaining 'Outperform'
Golden data July 19, according to CICC report, the target price of Pao Pao Mart (09992.HK) was raised by 21.6%, from HK$37 to HK$45, maintaining a rating of 'outperforming the market'. Pao Pao Mart issued a profit forecast for the first half of 2024, expecting sales and net profit to increase by no less than 55% and 90% year-on-year, exceeding market expectations. The rapid yükseliş in revenue and profit is benefited from Pao Pao Mart's continuously enhanced brand equity and cost optimization measures. Therefore, CICC has raised its sales forecast for 2024-2026 by 5-7% and also increased the net profit forecast by 18-26%, reflecting better-than-expected profitability in the first half of this year and an improvement in the full-year outlook.