[ET Net News Agency, 23 January 2024] HSBC Global Research raised its target price for
Nongfu Spring (09633) to HKD45.4 from HKD44.3 and maintained its "hold" rating.
The research house said it expects another strong beat in Nongfu Spring's 2023 results,
driven by the strong growth momentum in tea drink.
It believes a positive surprise on earnings is likely to support the share price, rather
than to drive further re-rating. (RC)