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Citi Raises LUK FOOK HOLD (00590.HK) TP to HKD25.4, Maintains Buy Rating
2025-06-30 14:26:37
Citi released a report on LUK FOOK HOLD (00590.HK), of which FY2025 net profit sagged 37.77% YoY, roughly in line with the profit warning but deeper than the broker's original expectations. The 2HFY25 showed improvement compared to 1HFY25.

The management expected double-digit SSSG in all regions for FY2026, beating the broker's expectations. The store net addition outlook also came in as a positive surprise.

Citi raised its net profit forecasts for LUK FOOK HOLD for 2026 and 2027 by 12% and 11%, respectively. Given the increase in earnings and FCF forecasts, it maintained a Buy rating, lifting the target price from HKD17 to HKD25.4.
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