Bank of America Securities: raises Zhou Dash (01929.HK) target price to 14.2 Hong Kong dollars, fiscal year 2027 guidance exceeds expectations.

According to the Inancial APP, Bank of America Securities released a research report stating that the target valuation multiple of Chow Tai Fook (01929.HK) has been lowered from 15 times the forecasted 2027 financial year P/E ratio to 13 times, to reflect the downward shift in peer valuation center, and the decrease in profit quality due to hedging income. Despite the profit uncertainty caused by fluctuations in gold prices, the trading valuation is considered attractive at a P/E ratio of 10 times the forecasted 2027 financial year and a dividend yield of 6%. The Bank reiterates its "neutral" rating, with the target price raised from 13.9 Hong Kong dollars to 14.2 Hong Kong dollars.