麦格理：上调中国中免目标价至90港元评级“跑赢大市”

Core Viewpoint - Macquarie has raised the target price for China Duty Free Group (01880) to HKD 90, maintaining an "outperform" rating, citing improvements in the company's Hainan operations in October, with increased conversion rates and average transaction sizes [1] Financial Projections - Macquarie has adjusted the net profit forecasts for the fiscal years 2025 and 2026 downwards by 13% and 5.9% respectively, primarily due to the inclusion of non-operating items and actual data from the third quarter of 2025 [1] - Revenue forecasts for the fiscal years 2025, 2026, and 2027 have been increased by 0.6%, 4%, and 9.6% respectively, attributed to the adjustments made [1]