Wharf experienced a 3-day consecutive sell-down last week despite a turnaround in earnings YoY for 1HFY23. However, it missed market estimates due to modest Q2 recovery which was affected by economic uncertainties. All its MA lines are trading below its current share price hence the potential opportunity for accumulation during weakness, supported by its strong fundamentals.
Net profit is expected to grow at a CAGR of 13% for the next 3 years with strong net margins ranging from 46%-50%.
Source: Rakuten Research - 14 Aug 2023
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