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<Research> JPM: Lower Likelihood of Share Placement by LAOPU GOLD (06181.HK) in Near Term; Attractive Valuation, Rated Overweight
Recommend 15 Positive 22 Negative 19 |
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JPM released a research report noting that shares of LAOPU GOLD (06181.HK) have fallen 22% cumulatively since April, mainly due to investor concerns over retail sales trends amid gold price volatility and potential share placement. The bank maintains a positive view on LAOPU GOLD, believing that demand remained resilient during the recent festive period, the likelihood of a share placement in the near term is low, and distribution channels continue to upgrade. With an attractive risk-reward profile, the current valuation corresponds to forecast 2026 and 2027 price-to-earnings ratios of only 10.7x and 8.7x, respectively, and a valuation re-rating is expected. JPM raised its earnings forecasts for this year and next year by 5% to 8%, maintained an Overweight rating on LAOPU GOLD, and listed it as a top pick in the China consumer sector. The TP is kept at HKD1,296, equivalent to 19x forecast price-to-earnings ratio for next year. (ec/da) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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