Citigroup: Maintains SUNART RETAIL's "Buy" rating, raising the Target Price to HKD 2.09.

Citi released a research report stating that the Net income forecast for SUNART RETAIL (06808) for the fiscal years 2025 to 2027 has been raised by 7%, 4%, and 3%, and the gross margin forecast has been raised to 24.2%, 24.3%, and 24.4%, expecting next year's Net income performance to approach the company's normal profit level. After eliminating uncertainty factors, the Target Price for SUNART RETAIL has been raised to HK$2.09, maintaining a Buy rating.

Sina Hong Kong Stock03:17 ET

Citi reaffirms the "Sell" rating on FLAT GLASS with a target price lowered to 10 Hong Kong dollars.

Citibank released a research report reiterating its "Sell" rating on FLAT GLASS (06865), believing that the valuation is unattractive. It is expected that the installed capacity of photovoltaics in China and globally will grow at a slower pace this year after exceeding expectations last year, with the Target Price reduced from 12 HKD to 10 HKD, the lowest in the market. The report quoted FLAT GLASS issuing a profit warning, anticipating that last year's profit will decline by 61% year-on-year to between 0.938 billion and 1.076 billion yuan, which meets market expectations of 1.052 billion and 0.984 billion yuan respectively, and suggests that the net loss in the fourth quarter of last year was approximately 0.22 billion to 0.32 billion yuan.

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