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China Securities Co.,Ltd.: The food & beverage industry is expected to usher in a turning point in prosperity. Focus on dealers preparing for the annual stocking conference.
With the increase in policy stimulus, the cyclical dining chain is expected to be the first to benefit from improved expectations.
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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.
