Citigroup: Chow Tai Fook (01929.HK) performance meets expectations, lowers target price to HK$15.4.

According to the Securities Times App, Citigroup released a research report stating that Chow Tai Fook (01929.HK) has raised its 2027 to 2028 earnings forecast by 8% to 9%, mainly due to an increase in revenue forecast by 3% to 7% and an upward revision of net profit margin forecast. The "buy" rating is maintained, with the target price lowered from 16.7 Hong Kong dollars to 15.4 Hong Kong dollars, corresponding to a forecast of a price-to-earnings ratio of 15 times for the 2027 financial year.