UBS: maintains "buy" rating on GIANT BIOGENE (02367) and raises target price to HK$82

UBS released a research report stating that it reaffirmed a "buy" rating for GIANT BIOGENE (02367), with a target price raised from 63.5 Hong Kong dollars to 82 Hong Kong dollars. The bank stated that with the strong performance of the flagship product collagen bars from COMFY and better-than-expected sales of the new "Focus Series" in the second half of last year, they are confident in the company's growth trajectory for this year. Preliminary data shows that the COMFY brand performed well in the ongoing Women's Day shopping festival. UBS has raised its profit forecast for the company for the years 2024 to 2026 by 3% to 4% to reflect the latest revenue and profit guidance from last year, as well as higher revenue and profit forecasts for the next two years due to the strong performance during Women's Day.