UBS: Raises Target Price for China Unicom to 11.5 Hong Kong Dollars, Raises Earnings Forecast for the next two years.

UBS released a report stating that Unified Enterprises' management in China maintains its guidance for revenue growth of 6% to 8% by 2025, and aims to achieve growth of 8% to 12%. The instant noodle business has shown resilience since the beginning of the year, but the beverage business is facing increasingly fierce competition after entering the peak season. Management expects that due to expansion and cautious cost management, the expense ratio will slightly decrease by 2025. Considering Unified Enterprises' strong performance so far this year, the bank has raised its earnings per share forecasts for the next two years by 4% to 6% and reiterated a "buy" rating, with the target price raised from 9.7 Hong Kong dollars to 11.5 Hong Kong dollars.