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00288 WH GROUP
RTNominal down6.330 -0.020 (-0.315%)
Research Report

12/08/2020 17:55

{I-bank focus}Jefferies cuts WH Group (00288) to HK$9.8

[ET Net News Agency, 12 August 2020] Jefferies Research lowered its target price for WH
Group (00288) to HK$9.8 from HK$10.8 and reiterated its "buy" rating.
The research house said WH Group's sales growth in 2Q was helped by higher ASP in China,
while the profit decline stemmed from falling demand in US packaged meat and incremental
costs related to COVID-19. Management expects China margin to remain healthy while the US
segment should recover starting in 3Q.
Jefferies said the worst is over, but valuation is at the trough. It revised down its
earnings forecast by 20% in 2020 to factor in higher than expected CPVID-19-related costs.
Jefferies expects sequential improvement in operations from 2H and more recoveries in
2021. (KL)

Remark: Real time quote last updated: 23/10/2020 17:59
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