On Thursday, Sun Art Retail Group (OTC:SURRY) Limited (6808:HK) (OTC: SURRF) received an updated price target from the investment firm Jefferies. The new target has been set at HK$1.78, an increase from the previous HK$1.70, while the stock maintains a Hold rating.
The adjustment comes after Sun Art Retail exhibited a positive same-store sales (SSS) trend over the recent two months. The company's performance has been closely watched, especially with the introduction of a new CEO who is expected to advance his strategic initiatives within the company.
Jefferies has based the new price target on a discounted cash flow (DCF) model, which has undergone minor net profit revisions for the fiscal years 2027 to 2035. The firm's outlook remains cautiously optimistic, acknowledging the encouraging SSS trend but also noting that it may be premature to determine its sustainability.
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