[ET Net News Agency, 17 June 2020] Goldman Sachs raised its target price for China
Feihe (06186) to HK$16.3 from HK$16.1 and maintained its "buy" rating.
The research house cited Feihe management saying that Feihe is focused on its 2020's
growth target and its objective for 30% overall market share by 2023 in IMF (Infant Milk
Formula) market. The strong online channel (up 200% in 1Q) and solid offline channel
expansion are the sources of growth.
Overall, Goldman sees the trend of the domestic brand taking share from international
brands and Feihe will likely benefit the most, considering its premium positioning,
control over extensive distributor network, and strong execution capabilities.
Goldman revised up its 2020-22 estimates forecasts by 1-2% mainly to factor in faster
IMF sales growth, and higher marketing investment related to logistics and e-commerce
expense consistent with the faster growth observed. (KL)
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06186 CHINA FEIHE
Nominal 
4.120 0.000 (0.000%) Others
17/06/2020 10:46
{I-bank focus}Goldman raises China Feihe (06186) to HK$16.3
| Remark: | Real time quote last updated: 18/04/2024 17:59 |
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