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00151 WANT WANT CHINA
RTNominal up4.420 +0.060 (+1.376%)
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23/06/2020 15:04

{I-bank focus}HSBC raises Want Want China (00151) to HK$8.12

[ET Net News Agency, 23 June 2020] HSBC Qianhai Securities Research raised its target
price for Want Want China Holdings (00151) to HK$8.12 from HK$7.59 and maintained its
"buy" rating.
The research house believes Want Want's FY2019 lower-than-expected revenue and net
profit growth was sluggish product demand in 4Q. Management indicated that, excluding 4Q
results, rice crackers, dairy beverages, and snack foods recorded high single-digit
growth, mid-single-digital growth, and low single-digit decline for 1Q-3Q.
With sales restoring double-digit growth, HSBC is positive on future channel expansion.
But it lowered its FY2020-21 attributable net profit estimates by 4.4% and 2.9%, on the
back of lower revenue and net profit growth in FY2019. (KL)

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