[ET Net News Agency, 2 September 2019] Nomura lifted its target price for Nissin Foods
(01475) to HK$7.5 from HK$6.4 and maintained its "buy" rating.
The research house said the company's sales growth in China accelerated to 12.2% in
terms of local currency (LCY), mainly driven by volume growth, showcasing the continuous
premiumisation trend in the instant noodles segment.
China penetration remains on track with superior growth in Eastern China versus Northern
and Southern China, due mainly to the swift development of the convenience store channel
and new products in the Tonkotsu series, which is liked by local consumers.
Nomura looks for 12% LCY growth in China and flattish HK growth in 2H for the noodles
business, partly offset by negative FX impact. It lifted its FY2019-21 earnings forecasts
by 14-15% to reflect better margins amid the healthy operating environment for instant
noodles. (KL)
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01475 NISSIN FOODS
Nominal 
5.020 +0.040 (+0.803%) Others
02/09/2019 16:42
{I-bank focus}Nomura lifts Nissin Foods (01475) to HK$7.5
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