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Citi Raises NONGFU SPRING (09633.HK) TP to HKD59.2, Upbeat on Tea Beverage Growth
Citi published a research report stating that it has updated its forecast model for NONGFU SPRING (09633.HK) based on field research on industry operations in 1Q26. The bank contin...
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Citi Raises NONGFU SPRING (09633.HK) TP to HKD59.2, Upbeat on Tea Beverage Growth
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Citi published a research report stating that it has updated its forecast model for NONGFU SPRING (09633.HK)  -0.820 (-1.862%)    Short selling $18.43M; Ratio 35.264%   based on field research on industry operations in 1Q26. The bank continues to expect the companys tea beverage sales to Outperform other categories this year, forecasting packaged water, tea beverages, functional drinks and juice sales to grow 9%, 22%, 15% and 15% YoY, respectively.

The bank expects that positive operating leverage from overall sales growth of 16% YoY will partly offset potential headwinds from rising PET resin costs. Net profit is projected to increase 13% YoY this year, only slightly slower than revenue growth. The banks net profit forecasts for FY2026 and FY2027 remain broadly unchanged.

Related News JPM: China Consumer Stocks Valuation Attractive but Earnings Cuts Not Over; Top Picks NONGFU SPRING (09633.HK), ANTA SPORTS (02020.HK), GUMING (01364.HK)
Citi maintains a Buy rating on NONGFU SPRING, raising the TP to HKD59.2 from HKD58.5. (ec/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-06-03 12:25.)

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