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<Research>Citi Expects Hainan Duty-free Sales Recovery to Boost CTG DUTY-FREE 4Q Profit Improvement, Elevates TP to $100
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Since 4Q25, Hainan's offshore duty-free sales performance has been stronger than expected, with YoY growth of 13%/ 27% in October/ November, accelerating to 55% in Christmas Eve (18-24 December) and 88% in the first week of 2026, ,Citi Research published a research report saying. This is mainly attributed to new duty-free policies, wealth effects, promotional activities and festival concerts, etc.. The broker elevated its target price for CTG DUTY-FREE (01880.HK)'s H-shares from $72 to $100, and raised its 2026/ 2027 earnings forecasts by 5%/ 6.6% each, while lowering its 2025 earnings forecast by 6.3% to reflect weaker-than-expected 3Q25 results. Citi Research anticipated that, with the recovery of Hainan's business, CTG DUTY-FREE's 4Q25 earnings will improve, and opened a 30-day upside catalyst watch, with rating kept at Buy. AASTOCKS Financial News Website: www.aastocks.com |
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