＜Research＞Citi Axes SUNART RETAIL (06808.HK) TP to $1.75, Cuts Earning Forecast

　　Under the leadership of the new CEO, SUNART RETAIL (06808.HK) -0.050 (-3.356%) Short selling $416.17K; Ratio 16.566% may shift its strategic focus to the value positioning of its products, SSS and GPM growth, Citi Research said in its report. The management's goal for FY2025 is positive SSS, flat YoY rental income and net profit.

　　After the transition period in FY2025, the recovery of the company's net profit should be more obvious in FY2026, the broker expected. The broker maintained its Buy rating on SUNART RETAIL, but axed its target price from $3.15 to $1.75, taking into account the notable downward revision of the company's earnings expectations.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-02 12:25.)

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