BofA Securities: Cuts WH Group (00288.HK) Target Price to HK$8.1, Maintains "Buy" Rating; Weak Quarterly Results Already Anticipated by Market

Zhitong Finance APP has learned that BofA Securities issued a research report stating that WH Group's (00288.HK) operating profit and net profit in the third quarter fell by 30% and 45% year-on-year respectively, while for the first nine months they fell by 12% and 13% year-on-year respectively. Third-quarter operating profit was broadly in line with market expectations, while net profit was below expectations. The bank believes that WH Group's weak third-quarter performance had long been within market expectations. BofA Securities reiterates its "Buy" rating and lowers its target price from HK$8.5 to HK$8.1.