Core Viewpoint - Morgan Stanley's research report indicates a clear upward trend in the brand value of Lao Pu Gold, as consumers are willing to queue outside stores even after price increases or promotional periods have ended [1] Group 1: Retail Performance - The retail sales performance of Lao Pu Gold is expected to remain strong, supported by data from August to September [1] - The company is anticipated to launch more new products in line with festive schedules and adopt new techniques such as gold lacquer technology [1] Group 2: Financial Projections - The company’s earnings forecasts for 2025 to 2027 have been slightly adjusted, with the target price raised from HKD 1294 to HKD 1296 [1] - The new target price suggests an 87% upside potential compared to the closing price of HKD 693 on Tuesday, corresponding to a projected price-to-earnings ratio of 24 times for 2027 [1] Group 3: Investment Rating - Morgan Stanley reaffirms an "Overweight" rating for Lao Pu Gold, listing it as one of the preferred stocks in the Chinese consumer sector [1]
大行评级丨小摩：将老铺黄金列为中国消费行业首选股之一，目标价看高至1296港元
Ge Long Hui·2025-10-15 02:27