Citi: Cuts Laopu Gold (06181.HK) target price to HK$400, maintains "Buy" rating, expects weaker net profit in Q3

Zhito Finance APP has learned that Citi issued a research report stating that it lowered the target price of Laopu Gold (06181.HK) from HK$507 to HK$400, maintained its "Buy" rating, and cut its earnings forecasts. The bank expects the company's sales to improve quarter-on-quarter in the third quarter of 2026, but net profit performance will be relatively weak, and gold price volatility will continue to weigh on consumer sentiment, further delaying the expected earnings recovery. Citi believes that investors have underestimated Laopu Gold's competitive advantages and are currently overly concerned about competition, and the company's current valuation is attractive.