[ET Net News Agency, 8 June 2020] Citi Research expects Sun Art Retail Group's (06808)
SSSG to re-accelerate in June, given soaring online sales from Tmall Supermarket
collaboration (on back of Alibaba's Rmb100bn consumer subsidies for "6.18 Shopping
Festival") and shifted Dragon Boat Festival-related offline sales from May to June.
With online sales continuing to be strong in May, its unique omnichannel biz model
remains structurally solid, the research house noted.
Market expectations on the stock have recently been lowered. Citi expects its
reaccelerated SSSG in June to become the next positive catalyst to drive the share price.
It maintained its "buy" call on Sun Art, with an unchanged target price of HK$14.42. (KL)
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06808 SUNART RETAIL
Nominal 
1.560 +0.020 (+1.299%) Research Report
08/06/2020 15:25
{I-bank focus} Sun Art's SSSG seen to re-accelerate in June
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