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<Research>JPM Lowers NONGFU SPRING's TP to HKD55; Rating Kept Overweight
Recommend 6 Positive 7 Negative 9 |
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NONGFU SPRING (09633.HK)'s stock price underperformed the market recently, as a slight drop in market expectations for its 2H25 earnings and a divergence in forecasts for its 2026 earnings led to profit-taking among investors, JPMorgan wrote in its research report. As the year-end approaches, investor expectations for NONGFU SPRING's 2026 outlook have become more divided. JPMorgan has slightly lowered its profit margin expectations for 2025 and has reduced its EPS estimates for 2026-27 by 2-3% to reflect a more conservative assessment of industry competition next year. NONGFU SPRING's rating remains as Overweight, with a target price trimmed from HKD62.3 to HKD55. AAStocks Financial News |
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