According to Macquarie, the net profit forecast for Chow Tai ?$#@$ (01929) for 2024-26 was raised by 6.2%, 6.5%, and 6.6%, respectively.
The Zhitong Finance App learned that Macquarie released a research report stating that it maintained Chow Tai Fook's (01929) “outperforming the market” rating, remained cautious about the jewellery promotion market and the weak consumer sentiment in China, and raised the 2024-26 net profit forecast by 6.2%, 6.5% and 6.6%, respectively. Considering the increased contribution of the opening of new stores, the target price was raised from HK$8.9 to HK$9.4. As of the company's third fiscal quarter ending December last year, the mainland's same-store sales growth had turned 22.7%. The growth rate in low-tier cities surpassed that in higher-tier cities. The company expects the average compound annual growth rate of same-store sales growth in mainland China to reach a low number of units.