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06808 SUNART RETAIL
RTNominal down8.870 -0.070 (-0.783%)
Others

08/07/2020 15:07

{I-bank focus}JEF lifts Sun Art Retail (06808) to HK$12.7

[ET Net News Agency, 8 July 2020] Jefferies Research lifted its target price for Sun
Art Retail Group (06808) to HK$12.7 from HK$12.2 but downgraded its rating to "hold" from
"buy" due to less than 15% upside.
The research house expects Sun Art to report a 14% rise in net profit to RMB2bn on a 7%
rise in sales to RMB54bn. Jefferies forecast EBIT growth at 16% with margin at 5%. SSSG is
expected to be around 6-7%. It believes its hypermarket business has enjoyed good
operating leverage especially for the first four months of 2020.
The risk of lower rental income has also been resolved with higher subsidies from the
government and landlords. Jefferies fine-tuned its 2020-22 net profit forecasts by 2-3% to
reflect better margin estimates. (KL)

Remark: Real time quote last updated: 21/09/2020 11:34
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