Daiwa: Weakening gold prices may reduce Chow Tai Fook (01929.HK) gross profit margin and operating profit margin Target price of 19 Hong Kong dollars.

According to the Wise Financial News APP, Morgan Stanley released a research report stating that they are maintaining their "Buy" rating on Chow Tai Fook Jewellery Group Limited (01929.HK), with a target price of HK$19. The most bullish scenario target price has been lowered from HK$25 to HK$24, while the most bearish target price is HK$9. The bank has lowered its operating profit forecast for Chow Tai Fook in the 2027 fiscal year, but expects losses to decrease at lower gold prices. As a result, they have raised their earnings per share forecast by 4% to HK$1.06 for the 2027 fiscal year, while lowering the forecast by 4% to HK$1.07 for the 2028 fiscal year.