UBS Group: Downgraded SMOORE INTL rating to "Sell" and raised Target Price to HKD 10.72.
UBS Group released a research report stating that it has downgraded SMOORE INTL (06969) from "Neutral" to "Sell," primarily due to high valuations and a relatively conservative view on the profit contribution of British American Tobacco's new heat-not-burn (HNB) products to its core customers. After BAT announced the launch of its new HNB products, SMOORE's stock price has risen by about 35%, indicating that investors are bullish on its prospects. The Target Price has been raised from 7.5 HKD to 10.72 HKD. However, UBS expects BAT to officially launch this new product in the second half of this year, and actual results may not be observable until next year.
Legal Cannabis May Be Boosted by Alcohol Warning From Surgeon General: Analyst
The Return Trends At British American Tobacco (LON:BATS) Look Promising
Argus Research Remains a Hold on British American Tobacco (BTI)
Tianfeng: Maintaining SMOORE INTL's "Buy" rating and being bullish on the growth potential of the HNB new business.
Tianfeng released a research report stating that, based on the company's Technology and leading advantages, it maintains a "Buy" rating for SMOORE INTL (06969), expecting the company's Net income for 2024-2026 to be 1.609/1.966/2.494 billion yuan, with year-on-year changes of -2.19%/+22.19%/+26.85%. The firm believes that as a global leader in providing atomization Technology solutions, the company's barrier advantages are becoming more pronounced, and under the backdrop of increasingly stringent regulations, the concentration of the Industry Chain is expected to accelerate. Tianfeng's main points are as follows: the company released a revised announcement of the Stock-based Incentive plan, with performance objectives...
China International Capital Corporation: Maintain SMOORE INTL's "Outperform Industry" rating with a Target Price of 13.5 HKD.
CICC released a research report stating that it maintains a "Outperform Industry" rating for SMOORE INTL (06969), with a Target Price of 13.5 Hong Kong dollars. On December 27, the company announced a stock option plan and a share award sale plan, intending to grant Mr. Chen Zhiping and 12 participants 61 million stock options and 2.26 million stock options, with an exercise price of 11.26 Hong Kong dollars per share, and plans to grant 1.416 million award shares to 9 participants. The bank is Bullish about the company's medium to long-term growth prospects as a Global aerosol Technology platform, with existing Business expected to benefit from strengthened overseas regulations and increased market share from major clients.
