Goldman Sachs: Raised WANT WANT CHINA (00151) target price to 4 Hong Kong dollars, rated as "sell".

Goldman Sachs released a research report stating that it has raised WANT WANT CHINA's (00151) net profit forecast for the fiscal years 2025 to 2027 by 3% to 4%, to reflect better revenue growth driven by new products and channel expansion, and introduced forecasts for the fiscal year 2028. The firm maintains a "sell" rating on Want Want with a target price raised from HK$3.9 to HK$4. Goldman Sachs expects WANT WANT CHINA to announce its performance for the second half of the fiscal year ending in March 2025 in late June. The firm predicts a 3% year-on-year sales growth and a 3% year-on-year decline in net profit for the second half of the fiscal year, compared to 2% growth and 8% decline in the first half of the fiscal year. During the period, the performance in sales during the Lunar New Year was good, with a widespread rebound in demand, improvements in all channels and categories, with dairy drinks, rice snacks, and snacks expected to be flat, up 5%, and up 9% year-on-year for the second half of the fiscal year, compared to a 1% decline, 4% growth, and 8% growth in the first half of the year.