Goldman Sachs lowered the profit forecast for Unified Enterprise China (00220) from 2024 to 2026 by 8 to 10%.
The Zhitong Finance App learned that Goldman Sachs released a research report stating that it will lower the profit forecast for Unified Enterprise China (00220) from 2024 to 2026 by 8 to 10%, reduce the target price from HK$8.04 to HK$7.5, and downgrade the investment rating from “buy” to “neutral” to reflect the pressure on commodity costs the company may face in the future and the uncertain growth prospects for food sales next year. The company's third-quarter profit increased 13% year over year to 0.669 billion yuan, falling short of the bank's expectations of an increase of more than 30%. Although gross margin expanded by more than 2 percentage points, it was offset by higher sales expenses.