Citi raised the target price for Chow Tai Fook (01929) to HKD10.2 from HKD9.9 and maintained the "buy" rating.
The research house said it raises FY25E/26E/27E adjusted net profit (excluding unsettled gold loan loss) estimate by 19%/11%/4% to reflect higher GPM assumptions given stronger-than-expected gold price.
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