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<Research>BofAS Chops GIANT BIOGENE (02367.HK) TP to $55.5, Reiterates Buy Rating
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GIANT BIOGENE (02367.HK) faced sales pressure during the Double 11 period, BofA Securities issued a research report saying. According to management data, sales of its Comfy brand on Tmall/ Douyin decreased by 20%/ 50% YoY each. In contrast, the Collgene brand achieved positive growth during the same period. Overall, BofA Securities lowered its 2025-2027 revenue forecasts for GIANT BIOGENE by 21%/ 24%/ 25%, and net profit forecasts by 21%/ 24%/ 24%, respectively. The broker also chopped its target price from $68.3 to $55.5, but reiterated rating at Buy, as the newly approved injectable medical aesthetics product is expected to become a new growth driver for the Company next year. AASTOCKS Financial News Website: www.aastocks.com |
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