Rakuten Trade Research Reports
Foreign Equities (HK): CHINA MENGNIU DAIRY CO - BUY With 23.8% Potential Upside. Accumulate on Weakness
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Publish date: Mon, 21 Aug 2023, 08:40 AM
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All materials published here are prepared by Rakuten Trade. For latest offers on Rakuten Trade products and news, please refer to: https://www.rakutentrade.my/
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Rakuten Trade
Hotline: +603 2110 7110 (Account Opening, General enquiry)
Email: customerservice@rakutentrade.my
TECHNICAL ANALYSIS
Mengniu has been on a downward trend since reaching its 52-weeks peak of HKD39.60 since Feb-23. Share price experienced four consecutive days of decline in the past week with support level found at HKD24.95. RSI indicated oversold condition as the selling momentum has now transitioned into buying momentum. We advocate accumulating on its weakness, supported by its strong fundamentals.
Fundamentals
Net profit is expected to grow at a CAGR of 17% for the next 3 years with stable net margins of more than 6%.
Source: Rakuten Research - 21 Aug 2023
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