May 13, 2021 11:48 AM (GMT+8) · EqualOcean
Daiwa released a research report, raising the international target price of Goodchild by 33.3% from HK $1.8 to HK $2.4, maintaining its "buy" rating. The report said the company's first quarter revenue was slightly higher than the bank expected, mainly due to stronger than expected growth momentum of Cybex. Although the company did not provide additional information on the gross profit margin, it is estimated that the operating profit margin in the quarter will be higher than 6% due to portfolio changes and rebound of blue chip business. The bank raised its 2021 earnings per share forecast by 15% and its 2022-23 earnings per share forecast by 2% - 3%.