DJ Hangzhou Robam Appliances May Achieve Double-Digit Revenue Growth in 2021 -- Market Talk
0734 GMT - Hangzhou Robam Appliances may be on track to achieve double-digit revenue growth in 2021 as it improves its developer and retail sales channels, Goldman Sachs says. The retailer is encouraging its agencies to directly open stores instead of selling to wholesalers, which could allow the company to lower its prices in lower-tier Chinese cities, the U.S. bank notes. The launch of new products and use of bundle sales could also boost its revenues and improve its brand recognition in the range-hood and gas stove segment, GS adds. The bank keeps its buy rating and target price of CNY47.00 on the stock. Shares are 4.0% lower at CNY40.98. (yiwei.wong@wsj.com)
(END) Dow Jones Newswires
November 05, 2020 02:34 ET (07:34 GMT)
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