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BOSIDENG (03998.HK) Once Rallies 7% after Midday; G Sachs Lifts Rating & TP
Recommend 4 Positive 7 Negative 6 |
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BOSIDENG (03998.HK) opened up 5.39% today, and once soared 7.1% to peak at $4.37, logging one-year high. It last printed at $4.26, up 4.41%, on volume of 64.3564 million shares and turnover of $274 million. Goldman Sachs released a report on BOSIDENG, of which management raised its revenue growth guidance for FY2024 ending March 2024 from 20% to 30%, mainly due to the successful launch of new products, the belief that the company has the ability to diversify its product range, and that it will still be able to seize the market demand even in the face of unstable weather. This, coupled with optimization of its sales channels, the growth rate of profit is likely to excel the growth rate of revenues. Under the challenging macro environment, BOSIDENG was still expected to outperform its peers, especially in raising selling price and increasing product categories, which made the broker feel more positive about the company and raised its target price from $3.7 to $5.5, and upgraded the stock from Neutral to Buy. AAStocks Financial News |
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