Core Viewpoint - Morgan Stanley's research report indicates that Lao Pu Gold (6181.HK) is expected to show strong performance in the second half of 2025 due to robust expansion of boutique stores, which includes five new openings and one renovation, although this has not yet reflected in the first half results [1] Group 1: Company Performance - The new boutique stores are anticipated to perform strongly during the opening promotions, benefiting from an ideal customer base, strong foot traffic, and sales [1] - Morgan Stanley maintains confidence in Lao Pu's growth visibility amid overall consumer uncertainty, projecting a target price of HKD 1249 for December 2025, corresponding to forecasted P/E ratios of 41x and 30x for the next two years [1] Group 2: Market Sentiment - Future catalysts for Lao Pu Gold include the opening of new stores and potential inclusion in the MSCI China Index [1] - Huatai Securities maintains a "Buy" rating on Lao Pu Gold, highlighting its competitive advantages and high growth momentum [2] - Bank of America has lowered its target price for Lao Pu Gold to HKD 958, with market focus on the sustainability of profit growth [2]
大行评级丨小摩：对老铺黄金增长可视性保持信心，重申增持评级，目标价1249港元
Ge Long Hui·2025-07-29 08:33