CICC: Raises the target price of NEWBORNTOWN to HKD 14.5, maintains "Outperform Industry" rating
CICC released a research report stating that NEWBORNTOWN's revenue for the first three quarters is expected to grow by 37.6% to 39.9% year-on-year, with an anticipated reach of RMB 4.91 billion to 4.99 billion. The firm maintains its revenue and profit forecasts for NEWBORNTOWN for this year and next, reiterating an "outperform the industry" rating and raising the target price by 7.4% to HKD 14.5
According to the Zhitong Finance APP, China International Capital Corporation (CICC) released a research report stating that NEWBORNTOWN (09911) is expected to see a year-on-year revenue growth of 37.6% to 39.9% in the first three quarters, with an anticipated revenue of RMB 4.91 billion to RMB 4.99 billion. The firm maintains its revenue and profit forecasts for NEWBORNTOWN for this year and next, reiterating an "outperform industry" rating and raising the target price by 7.4% to HKD 14.5
