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China Foods Limited Unveils 2024 Financial Services Agreement
Daiwa: Downgraded Want Want China's rating to "hold" and raised the target price to 5.9 Hong Kong dollars.
Daiwa has released a research report, lowering the earnings per share forecast for Want Want China (00151) for the fiscal years 2025 to 2027 by 2% to 4%, while raising the target price to HK$5.9. Due to limited upside potential in the stock price, the rating has been downgraded from 'buy' to 'hold'. Daiwa's research report also quotes the latest business update from Want Want's management, indicating a further weakening of summer sales momentum compared to the second quarter, mainly due to weak demand, weather factors, and destocking channels. This is consistent with the performance of most China foods and beverage companies. Currently, Daiwa forecasts Want Want's revenue for the first half of the fiscal year 2025 ending in September this year.
CHINA FOODS: INTERIM REPORT 2024
Haitong Securities: First gives China Foods (00506) an "outperform" rating with a fair value of HKD 3.63-4.62.
Haitong Securities believes that the continued enrichment and expansion of China Foods' retail innovation business in the future will help the company further move towards its vision of becoming a world-class food and beverage group.
Earnings Are Growing at China Foods (HKG:506) but Shareholders Still Don't Like Its Prospects
China Foods' H1 Profit Falls on 9% Revenue Decline
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