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Nomura Chops LAOPU GOLD (06181.HK) TP to $1,114 as Gold Price Volatility Impacts Valuation
2026-03-25 14:18:32
LAOPU GOLD (06181.HK)'s 2025 results and 1Q26 preliminary operating data far beat market consensus, Nomura released a research report saying. The broker remained confident in the Company's growth trajectory for 2026, and anticipated that new product launches, domestic store upgrades, and the expansion of VIC segment will be the main growth drivers.

Nomura raised its 2026/ 2027 revenue/ earnings forecasts by 12-14%/ 23-24% to reflect the growth prospects. However, the broker also lowered its target PE ratio from 30x to 22.5x, reflecting increased uncertainty in sales due to gold price volatility.

Therefore, Nomura kept rating at Buy, but chopped its target price from $1,171 to $1,114.
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