Bank of China International: Upgrades Chow Tai Fook (01929.HK) rating to "Buy" with target price raised to HK$11.2.

Wisdom Financial APP learned that CCB International released a research report stating that Chow Tai Fook (01929.HK) continued to face pressure on its operating indicators for the fourth quarter of its fiscal year ending March 2025, with a year-on-year decrease of 11.6% in group retail turnover. The total number of stores was 6,643, with a net closure of 406 stores higher than expected. The bank expects the company to perform better in the fiscal year 2026 in its current direction, and this will contribute to the restructuring of the company's valuation. The bank has upgraded its rating from "hold" to "buy" and raised the target price from the original 6.8 Hong Kong dollars to 11.2 Hong Kong dollars.