hardyduchess314| UBS: Downgraded Minhua Holdings to "neutral" and raised its target price to HK$7.1

UBS released a research report saying that the valuation of Minhua Holdings (01999) is at a reasonable level, downgraded its rating from "buy" to "neutral", and raised its earnings per share forecast for 2025 and 2026 by 8% and 5% to a year-on-year decline of 14% and 1%, with a target price of 6hardyduchess314.3 Hong Kong dollars was raised to HK$7.1.

The report said that driven by the improvement of overall market sentiment, expectations of US interest rate cuts, China's real estate support policies, and exceeding expectations for fiscal year 2024, the company's share price has rebounded by more than 50% since mid-February. However, its fundamentals are not There are no challenges, including the rereplenishment of the U.S. market channel, it no longer has an advantage in inventory levels, and demand remains sluggishhardyduchess314At the same time, in the domestic market, declining consumption levels and intensified competition have put pressure on the average selling price and profit margins of products.

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