Citigroup: bullish on Lao Pu gold (06181.HK) is in a price advantage, target price raised to 1,084 Hong Kong dollars

According to the Wisdom Financial APP, Citigroup released a research report stating that since April, the significant rise in the price of gold has narrowed the premium of Lao Pu Gold's (06181.HK) products relative to mass market products, making its high-end products more attractive. Lao Pu's unprecedented advantage has helped it rapidly expand its customer base. The bank believes that if the price of gold remains at its current high level, despite a higher base for same-store sales, it predicts that Lao Pu's same-store sales growth (SSSG) in the three digits will continue until the second half of 2025. It maintains a "buy" rating on Lao Pu, with a target price raised from 979 Hong Kong dollars to 1,084 Hong Kong dollars, based on a forecasted 36 times price-to-earnings ratio for 2025.