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[I-bank focus]Jefferies cuts Goodbaby Int'l (1086) to HK$3.3 [ET Net News (China)]
[September 30, 2014]

[I-bank focus]Jefferies cuts Goodbaby Int'l (1086) to HK$3.3 [ET Net News (China)]


(ET Net News (China) Via Acquire Media NewsEdge) [ET Net News Agency, 30 September 2014] Jefferies Research cut its target price for Goodbaby International (01086) to HK$3.3 from HK$3.45, and maintained its "hold" rating.

The research house said Goodbaby's transition to own brand business is progressing as planned. However it sees near-term challenges in turning around Evenflo, rising costs amid the development of the new channel and competition in China.



Jefferies raised its group sales forecast by 1% to HK$6.3bn (+51% yoy) and raised gross profit margin by 0.7ppt to 26.8% (+3.9ppt yoy) in 2014. It also cut 2014 operating profit by 8% to HK$216m (+13% yoy). In a nutshell it cut core net profit (excluding M&A related expenses) by 4% yoy to HK$180m. (KL) (c) 2014 ET Net Limited. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

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