U-Presid China (00220) rose by over 4%, as of press time, it increased by 4.06%, reporting HKD 7.43, with a turnover of HKD 18.1325 million.
According to the Zhongtong Financial APP, U-Presid China (00220) rose by over 4%, as of press time, it increased by 4.06%, reporting HKD 7.43, with a turnover of HKD 18.1325 million.
In terms of news, on June 13th, the Southbound Capital increased its shareholding of U-Presid China by 984,000 shares for seven consecutive days. As of the close of the day, the Hong Kong stock connect held a total of 174.8352 million shares of U-Presid China, accounting for 4.04% of the circulating shares.
In its research report, Morgan Stanley upgraded the target price of U-Presid China from HKD 4.9 to HKD 6.6, and the rating was correspondingly raised to "Synchronized with the broader market". The company may face more severe competition in the second quarter of the 2024 fiscal year, which is expected to slow down its sales growth and weaken its sales leverage benefits. Sales in the fiscal year of 2024 is expected to grow by 8%.
The bank pointed out that considering the strong sales momentum of U-Presid's beverage business in the first quarter of the 2024 fiscal year, Morgan Stanley raised its sales forecast for the fiscal years from 2024 to 2026 by 1% to 2%; the gross margin forecast for the fiscal year 2024 was raised by 1.5 percentage points; EPS forecast for fiscal year 2024 was raised by 19%; EPS forecast for fiscal years 2025 and 2026 were raised by 26% and 28%, respectively.