[ET Net News Agency, 16 January 2024] UBS raised its target price for Giant Biogene
(02367) to HKD44.9 from HKD43.3 and maintained its "buy" rating.
The research house said it raises earnings estimates from 2023-25E by 2~4% to reflect
(1) raise revenue forecast in 2023/24 by 2%/1% on better-than-expected sales performance
during double 11 in 2023; and (2) raise EBIT margin in 2023/24/25 by 0.1ppt/0.2ppt/0.9ppt
on positive operating leverage and assumption on better marketing efficiency. (RC)