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<Research>Citi Raises LAOPU GOLD's TP to HKD1,119, Expects New Store Investment to Break Even Within 2 Yrs
Recommend 4 Positive 13 Negative 5 |
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LAOPU GOLD (06181.HK)'s overseas expansion plan is seemingly accelerating with an aim to foray into more new markets by 2026, Citi wrote in its research report. Management hasn't denied the capital requirements needed to support growth, which may spark investor concerns about potential financing. In Citi's estimate, LAOPU GOLD's new store investments (mainly inventory) will break even within two years, with free cash flow reversing by 2026. The broker lifted its target price for the company from HKD1,084 to HKD1,119, with a Buy rating remaining unchanged. AAStocks Financial News |
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