707pubcom| Bank of America Securities: Reiterates Min Wah Holdings '"Buy" rating target price rises to HK$10
Bank of America Securities released a research report saying that it reiterated the "buy" rating of Minhua Holdings (01999) and raised its target price from HK$6 to HK$10.
The report pointed out that the 2024 fiscal year results were in line with the bank's expectations, but better than market expectations. Since late April,707pubcomAfter the introduction of a series of stimulus policies, investors currently expect that the real estate policy will be further relaxed, which will benefit from improved market sentiment, and its risk-return will be better than those of their furniture industry peers.
The bank said Minhua's net profit increased by 20% year-on-year to 2.3 billion yuan, and its net profit margin increased by 1%707pubcom.5 percentage points to 12.5%, which is roughly in line with the bank's forecast. It expects operating income and profit to increase by 9% in fiscal year 2025.
2024-05-20 17:55:03
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