CLSA Lifts Nongfu Spring Price Target to HK$60, Reaffirms Top Pick Rating
Stock News
Yesterday
CLSA has issued a research report indicating that NONGFU SPRING (09633) outperformed its peers in growth across all business segments during the first half of the year, showcasing its ability to continuously expand market share. The firm anticipates that the company's ongoing rollout of innovative products and new electrolyte water offerings will sustain its growth momentum, with expectations of a slight expansion in net profit margins during the second half.
Consequently, CLSA has marginally raised the target price from HK$59.6 to HK$60, while maintaining a "high conviction outperform" rating on the stock.
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