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<Research>G Sachs Keeps Neutral on LUK FOOK HOLD w/ TP HKD23
Recommend 5 Positive 5 Negative 6 |
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LUK FOOK HOLD (00590.HK) achieved a 31% same-store sales growth for its branded stores in mainland China for 3QFY26 ending last year, according to Goldman Sachs' research report. The same-store sales growth for LUK FOOK HOLD's self-operated stores in mainland China reached 7%, accelerating from the previous quarter's 7%. It has returned to pre-pandemic levels. During the period, the same-store sales growth in the Hong Kong and Macau markets also expedited from 11% to 16%. Given the further rise in gold prices and the relatively weak overall consumer spending, Goldman Sachs believes it is still necessary to observe LUK FOOK HOLD's sales resilience. Considering the high base during the Lunar New Year period, the broker has kept LUK FOOK HOLD's Neutral rating unchanged, with a target price of HKD23. AASTOCKS Financial News |
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