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<Research>CLSA Lifts NONGFU SPRING (09633.HK) TP to $59.6, Reiterates High Conviction Outperform Rating
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NONGFU SPRING (09633.HK) delivered strong 2025 results, with sales and net profit in 2H25 beating expectations, according to CLSA's research report. Management revealed that the YTD performance was in line with its full-year double-digit revenue growth target. The broker forecasted that the Company's 2026 revenue/ profit will grow by 14% YoY, with a slight decline in gross margin due to higher PET price. However, CLSA believed that improved operational efficiency can offset some of the impact. CLSA raised its 2026/ 2027 net profit forecasts by about 1% to reflect strong sales growth and profit margin expansion. Therefore, the broker lifted its target price from $57.6 to $59.6, with rating reiterated at High Conviction Outperform. AASTOCKS Financial News Website: www.aastocks.com |
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