＜Research＞Citi Cuts MENGNIU DAIRY (02319.HK) TP to $25.65; Rating Kept Buy

　　Citi's research report pointed out that, in view of the feeble sales in the industry in 1H24, the broker trimmed the revenue forecast for MENGNIU DAIRY (02319.HK) -0.360 (-2.459%) Short selling $28.05M; Ratio 25.487% for 2024 and 2025 by 5% and 9%, respectively, and the net profit forecast by 19.8% and 16%, respectively.

　　The broker expected the company's sales to remain flat YoY in 2024 and hike by 4% in 2025, and its EBIT margin to rise by 50 and 30 bps YoY to 6.8% and 7.1%, respectively. Citi lowered MENGNIU's target price from $31.9 to $25.65, maintaining its Buy rating.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-05 12:25.)

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