Lates News

Citigroup has raised its target price and profit expectations for Lao Feng Xiang gold. Since April, the rise in gold prices has made its high-end products more attractive compared to mass market positioned gold jewelry. If gold prices remain at current highs, same-store sales growth for Lao Feng Xiang gold in the triple digits may continue into the second half of the year despite a higher base. Citigroup has raised its net profit forecast for the company for 2025 to 2027 by 9% to 10%, citing a 6% to 7% increase in revenue forecasts and higher operating profit expectations. Citigroup maintains a buy rating for Lao Feng Xiang gold, raising its target price from 979 Hong Kong dollars to 1084 Hong Kong dollars.