Lates News

date
08/08/2025
Citigroup's research report stated that Lee & Man Paper's performance in the first half of the year was slightly better than expected, but revenue was slightly lower than expected. Citigroup raised its earnings forecast for the company for the years 2025 to 2027 by 14% to 15% and increased the target price from 2 Hong Kong dollars to 2.4 Hong Kong dollars based on an expected PE ratio of 6 for 2025. The stock has risen by about 30% since early July, reflecting the steady performance in the first half of the year and recent measures taken against internal competition in the paper industry. However, Citigroup believes that weak consumer demand is still a key factor limiting profit margin recovery. Given the recent technical rebound, Citigroup reiterated its "sell" rating on the stock.