According to a report published by CICC, according to the bank's channel research, L'Occitane's performance in July may have been better than expected. The bank expects the company's July revenue to increase by about 30% year-on-year at a fixed exchange rate. According to CICC, driven by Chinese online channels, ELEMIS Asia Pacific's revenue is expected to increase by three digits year on year in July; benefiting from strong performance in the US market, SDJ revenue is expected to increase by more than 200% year on year in July. The bank raised L'Occitane's revenue forecasts for the 2024 and 2025 fiscal years by 6% and 4%, respectively, to 2.6 billion euros and 2.9 billion euros, and net profit forecasts by 10% and 4%, respectively, to 252 million euros and 323 million euros. CICC maintained L'Occitane's “outperforming the industry” rating and raised its target price by 17% to HK$28.
研报掘金｜中金：上调欧舒丹目标价至28港元 评级“跑赢行业”
Research Report Nuggets | CICC: Raising L'Occitane's target price to HK$28 and “outperform the industry”
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