Angel of the Times (06699) rose more than 4%. As of press release, it had risen 4.17% to HK$53.7, with a turnover of HK$15.9411 million.
The Zhitong Finance App learned that Times Angel (06699) rose by more than 4%. As of press release, it had risen 4.17% to HK$53.7, with a turnover of HK$15.9411 million.
According to the news, UBS released a research report saying that Time Angel's overseas sales performance in the first half of the year boosted the bank's confidence in its growth prospects. The bank is increasingly optimistic that the company will achieve the goal of 50% of exports in 2027. Furthermore, the company's rapidly growing sales and achieving economies of scale also allayed the bank's concerns about whether its overseas division could reach balance of payments in the second half of next year.
The bank raised Time Angel's 2024-2026 earnings forecast by 48%, 4% and 16%. In addition, given the compound annual growth rates of the company's revenue and net profit from 2023 to 2027, the bank raised its target price for Time Angel from HK$83 to HK$86, and the rating was raised from “neutral” to “buy”.