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<Research>UOB Kay Hian Believes CN Consumers Rebuilding Confidence, Prefers ANTA/ GALAXY/ HAIDILAO/ HAIER/ MENGNIU/ MIDEA
Recommend 27 Positive 44 Negative 18 |
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UOB Kay Hian has published a research report indicating that the stock prices of Chinese consumer stocks under its coverage have rebounded by an average of about 33% since the end of September. However, the current valuation levels are still not considered high. The broker anticipated that direct policy support and the potential wealth effect could gradually recover Chinese consumers' confidence, enhancing the earnings visibility of Chinese consumer goods companies this year and leading to potential re-ratings. The broker suggested investors refocus on the China theme. Its preferred stocks included ANTA SPORTS (02020.HK), GALAXY ENT (00027.HK), HAIDILAO (06862.HK), HAIER SMARTHOME (06690.HK), MENGNIU DAIRY (02319.HK), and MIDEA GROUP (00300.HK) (000333.SZ), all with a Buy rating remaining in place. Given the uncertainty of the transaction between MNSO (09896.HK) (MNSO.US) and Yonghui, the broker removed MNSO from its preferred stock list, and added MENGNIU DAIRY with an optimistic outlook on the improvement in the company's channel inventory levels. AAStocks Financial News |
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