里昂：升农夫山泉(09633)目标价至59.6港元 重申“高确信跑赢大市”评级

Core Viewpoint - The report from Credit Lyonnais indicates that Nongfu Spring (09633) had a strong performance last year, with sales and net profit in the second half exceeding expectations. The management has stated that the performance so far this year aligns with the goal of double-digit revenue growth for the full year [1] Group 1 - The company is projected to achieve a revenue and profit growth of 14% year-on-year this year [1] - Credit Lyonnais has raised its net profit forecasts for 2026 and 2027 by approximately 1% to reflect strong sales growth and margin expansion [1] - The target price for Nongfu Spring has been increased from HKD 57.6 to HKD 59.6, maintaining a "high conviction outperform" rating [1]