According to Citigroup's research report, Haier Smart Home's (06690) first-quarter performance updated its model. Although the forecast for the group's net income in 2024 remains basically unchanged, the net income forecast for 2025 is raised by 3% with the assumption of an increase in operating profit margin. The target price of Haier Smart Home's H shares is raised by 20% from HKD 33.12 to HKD 39.7 by extending the valuation to 2024 and based on a P/E ratio of 17 times. It maintains a buy rating on mainland home appliance stocks and H shares.
花旗：维持海尔智家(06690)“买入”评级 目标价升至39.7港元
Citigroup: Maintains buy rating for Haier Smart Home (06690), target price increased to HKD 39.7.
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