[ET Net News Agency, 9 July 2020] Goldman Sachs raised its target price for China Feihe
(06186) to HK$18.3 from HK$16.3 and maintained its "buy" rating.
The research house said Feihe's positive profit alert reflects the strong momentum
year-to-date in Feihe's offline market share gain and quick expansion of online channel
during the Covid-19 outbreak.
To reflect the solid sales trend, Goldman raised its 2020-22 EPS forecasts by 2-3%. It
now expects Feihe to reach as much as 27% market share by 2023, from continued channel
expansion and share gain over smaller domestic/leading international players. (KL)