[ET Net News Agency, 17 January 2020] Huatai Research lowered its target price for Luk
Fook Holdings (International) (00590) to HK$24 from HK$27.7 and maintained its "buy"
rating.
The research house said Luk Fook's same-store-sales decline of 25% in 3Q FY2020
(October-December 2019) was an improvement from a 37% decline in 2Q, mainly due to the
lower base.
Despite management witnessing a recovery trend in both mainland China and HK/Macau in
the first two weeks of January which might be attributed to holiday shopping, Huatai
remains cautious on Luk Fook as its business is more vulnerable than peers' to the risky
macro environment. It prefers Chow Tai Fook Jewellery (01929) to Luk Fook for its better
branding, products and higher contribution from mainland China. (KL)
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00590 LUK FOOK HOLD
Nominal 
18.180 -0.080 (-0.438%) Others
17/01/2020 17:19
{I-bank focus}Huatai cuts Luk Fook Holdings (00590) to HK$24
| Remark: | Real time quote last updated: 24/04/2024 13:22 |
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