[ET Net News Agency, 18 August 2020] CMB International Securities (CMBIS) raised its
target price for Sun Art Retail (06808) to HK$15.6 from HK$15.32 and maintained its "buy"
rating.
The research house said Sun Art's 1H net profit was 3% above consensus. The company will
accelerate its expansion by opening multi-format stores. Through in-depth cooperation with
Alibaba (09988), the company will explore community group purchase with Cainiao.
CMBIS raised its FY2020-22 net profit estimates by 1-4%. (KL)