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<Research>Citi Keeps Buy on LAOPU GOLD w/ TP HKD1,162, Higher NP Forecast
Recommend 10 Positive 13 Negative 4 |
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LAOPU GOLD (06181.HK) showed strong momentum in its 1Q26 results and inventory preparation, Citi's research report said. The management revealed that March is usually the quietest month of the year, yet this year recorded a tax-inclusive sales amount of RMB3 billion. The management also holds a positive view on gold prices, confident that the business resilience can be maintained even if gold prices decline in the future. Citi has raised its 2026-27 net profit forecasts for LAOPU GOLD by 9% and 6%, mainly due to the increased gross profit margin forecast. LAOPU GOLD's rating remains Buy, with a target price of HKD1,162. Citi has selected LAOPU GOLD as its top pick in the Chinese jewelry sector. AAStocks Financial News |
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