CICC: Maintain a outperform rating on Rare Wine Lee Du (06979.HK) with a target price of HK$11.2.

Zhitong Finance APP learned that Zhongjin issued a research report stating that due to the better-than-expected improvement in product structure and cost-effectiveness ratio, the profit forecast for Zhenjiu Laidu (06979.HK) for the years of 2026/2027 has been raised by 32.2%/30.8% to 7.93/9.92 billion yuan. The target price is maintained at 11.2 Hong Kong dollars, corresponding to an adjusted P/E ratio of 42.1x/33.7x for 2026/2027. The current price corresponds to an adjusted P/E ratio of 27.2x/21.8x for 2026/2027, with 53.0% upside potential, maintaining an outperform industry rating.