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<Research>Haitong Int'l Initiates Coverage on LUK FOOK HOLD (00590.HK) w/ Rating Outperform/ TP $40.35
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Haitong International issued a research report initiating coverage on LUK FOOK HOLD (00590.HK), with rating at Outperform. The broker forecasted FY2026-2028 net profits to be $1.578 billion/ $1.8 billion/ $1.977 billion, respectively. Based on comparable company valuations, Haitong International assigned a 15x PE ratio for FY2026, with a target price of $40.35. LUK FOOK HOLD recorded a revenue of $6.843 billion for 1HFY2026, up 25.6% YoY, while gross profit was $2.373 billion, up 33.2% YoY, with a gross profit margin of 34.7%, up 2 ppts YoY, the report added. Operating profit amounted to $780 million, up 45.4% YoY, with an operating profit margin of 11.4%, increasing by 1.6 ppts YoY. Net profit amounted to $619 million, rising 42.5% YoY, with a net profit margin of 8.8%, increasing by 1.1 ppts YoY. An interim DPS of $0.55 was declared, representing a payout ratio of 52%. AAStocks Financial News Website: www.aastocks.com |
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