HSI1 25,947.32 +75.00 245.59B
HSCEI1 8,718.26 +46.65 84.24B
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HSBC Research Cuts SF INTRA-CITY (09699.HK) TP to HKD19.5; Slower Growth but Better Profitability; Rating Buy
2026-04-14 15:16:52
HSBC Global Investment Research issued a report noting that SF INTRA-CITY (09699.HK) has seen its share price correct by 18% since early February, underperforming the HSI's 5% downswing over the same period.

The broker believed market concerns over the impact of slowing growth in on-demand delivery orders on profitability are overdone. It expected growth to remain at a relatively high level, while easing cost pressures could become a catalyst for further margin expansion.

The Buy rating was maintained, with the TP trimmed from HKD21.4 to HKD19.5.
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