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<Research>BofAS Lifts CHINA RES MIXC TP to $35; Loyalty Program Provides New Growth Impetus
Recommend 4 Positive 7 Negative 4 |
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BofA Securities issued a report, expecting CHINA RES MIXC (01209.HK) to expand its loyalty program to merchants other than its tenants and monetize the program by selling points directly to these merchants or charging platform and settlement fees, which were expected to generate a potential long-term revenue stream of RMB1-2 billion, equivalent to 7-13% of its revenue by FY2023. The brokers believed that the loyalty program will provide a new growth engine for the Company. The report mentioned that the earnings CAGR in the next two years of the Company to near 20%, and raised its target price from $33 to $35, maintaining a Buy rating. AAStocks Financial News |
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