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06808 SUNART RETAIL
RTNominal up1.560 +0.020 (+1.299%)
Others

13/11/2019 13:49

{I-bank focus}Jefferies rates Sun Art Retail (06808) HK$11

[ET Net News Agency, 13 November 2019] Jefferies Research initiated coverage on Sun Art
Retail (06808) with a "buy" rating and a target price of HK$11.
The research house expects Sun Art's partnership with Internet giant Alibaba to have a
material impact on its online business, with online sales more than doubling to over 30%
of total sales in 2021.
Under the partnership, Sun Art's retail infrastructure will function as an arterial
network for Alibaba's online food retail platforms, in addition to serving both on/offline
customers. Jefferies expects Sun Art to report 2019-2021 CAGR of 9% in net profit and 3%
in sales. It believes Sun Art is Alibaba's most fruitful offline partner in Fresh Food
Retail. (KL)

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