Citigroup: Initiates coverage on EAST BUY (01797) with a "buy" rating, target price of HK$18.5.
The company believes that potential cooperation models include jointly developing branded products or integrating Fatty Donglai's high-quality products into Oriental Selection's platform.
Citibank released a research report stating that they give EAST BUY (01797) a "buy" rating with a target price of HK$18.5. The chairman of EAST BUY, Yu Minhong, expressed an open attitude towards cooperating with Pangdunlai, emphasizing that the product quality standards of EAST BUY are consistent with those of Pangdunlai. The bank believes that potential cooperation models include jointly developing branded products, or integrating Pangdunlai's high-quality products into EAST BUY's platform.
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