Citigroup raises target price and profit forecast for established gold stores.

Citigroup has raised its target price and profit expectations for the old shop's gold, stating that the upward trend in gold since April has made its high-end products more attractive compared to mass market positioned gold jewelry. If the gold price remains at its current high levels, the double-digit growth in same-store sales for the old shop's gold may continue into the second half of the year, despite a high base. Citigroup has raised the company's net profit forecast for 2025 to 2027 by 9% to 10%, citing a 6% to 7% increase in revenue forecasts, as well as higher operating profit expectations. Citigroup maintains a buy rating on the old shop's gold and has raised its target price from 979 Hong Kong dollars to 1084 Hong Kong dollars.