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Citibank: Lowers Lukfook Group's (00590) target price to HK$27.4 and net profit forecast for the 2027-2029 fiscal year by 10% to 17% to maintain a “buy” rating
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The Zhitong Finance App learned that Citi released a research report stating that it maintained the “buy” rating of Lukfook Group (00590), but lowered the target price from HK$31.8 to HK$27.4. The bank pointed out that due to weak same-store sales growth in mainland China and continued closure of stores, the revenue forecast was lowered; at the same time, due to falling gold prices, the company's gross margin forecast was lowered, but part of the impact was offset by higher hedging earnings. Overall, the bank lowered Lukfook Group's net profit forecast for the 2027-2029 fiscal year by 10% to 17%.

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