[ET Net News Agency, 30 November 2023] J.P. Morgan lowered its price target for Luk
Fook Hold (00590) to HKD30 from HKD31 and maintained its "overweight" rating.
The research house said it believes Luk Fook will be the biggest beneficiary among gold
and jewellery brands on cross-border reopening, as it has the highest sales exposure to
HK. It also expects the margin to further expand due to the favourable mix change for the
coming quarters. (RC)