[ET Net News Agency, 17 August 2020] Huatai Research lifted its target price for Sun
Art Retail (06808) to HK$14.1 from HK$14 and maintained its "buy" rating.
The research house said Sun Art's interim results were ahead of Huatai's 2020 earnings
growth estimate of 12%, thanks to the robust revenue growth in the online channel and
profit enhancement from business integration.
Per management, same-store sales growth (SSSG) returned to positive territory in August
as the unfavorable weather gradually receded. Sun Art began a multi-format strategy this
year, by opening more smaller retail stores and getting closer to consumers. Huatai is
positive on the strategy as Sun Art, with support from Alibaba (09988), has multiple
competitive advantages over peers. (KL)
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06808 SUNART RETAIL
Nominal 
1.550 +0.010 (+0.649%) Research Report
17/08/2020 14:40
{I-bank focus}Huatai lifts Sun Art Retail (06808) to HK$14.1
| Remark: | Real time quote last updated: 26/04/2024 13:14 |
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