Goldman Sachs: Raise the target price of China Resources Ng Fung (09633) to 48 Hong Kong dollars, reiterate "buy" rating.

According to the Zhixun Finance APP, Goldman Sachs released a research report stating that it has raised its revenue forecast for Nongfu Spring (09633) for the years 2025 to 2027 by 1% to 3%, based on a 2% to 7% increase in forecasted growth for bottled water consumption. Profit forecast for the same period has been raised by 3% to 9% due to strong profit margins. The latest data shows that sales and net profits for the full year of 2025 are expected to increase by 17% and 20% respectively, and by 14% and 16% in 2026. The target price has been raised from HK$43.6 to HK$48, and the "buy" rating has been reiterated.