Li & Fung 0494

Re: Li & Fung 0494

Postby winston » Wed Jul 02, 2014 8:13 am

not vested

LI & FUNG (00494.HK) upgraded to Overweight, target trimmed to $11 - JPM
2014-06-30

According to the latest research report by JP Morgan, LI & FUNG (00494.HK) 0.000 (0.000%) Short selling $71.09M; Ratio 15.881% will held a Board meeting tomorrow so as to conclude a final decision on the proposal spin off of Global Brands (00787.HK).

If the resolution is passed, Global Brands (00787.HK) will likely to be listed by means of introduction on 9 July.

JP Morgan commented the spin off will bring positive impacts to LI & FUNG, since it will lead to stabilized growth and profit margin, as well as enhanced returns and cash flow.

Rating of LI & FUNG was upgraded to Overweight from Neutral, thanks to stabilizing gross margin, robust ROE, and lower gearing.

Target price was trimmed from $11.3 to $11.


Source: AAStocks Financial News
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Re: Li & Fung 0494

Postby winston » Wed Jul 02, 2014 8:15 am

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LI & FUNG (00494.HK) to distribute Coty's Adidas, Playboy in China
2014-06-04

LI & FUNG (00494.HK) 0.000 (0.000%) Short selling $71.09M; Ratio 15.881% is going to distribute some of the important brands under Coty, including Adidas and Playboy, in China.

Coty said yesterday that the deal is an important step for Coty to readjust business in China.

Source: AAStocks Financial News
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Re: Li & Fung 0494

Postby winston » Wed Jul 02, 2014 8:34 am

Summary of brokers' ratings, target prices for LI & FUNG (00494.HK)
2014-03-21

Summary of brokers' ratings, target prices for LI & FUNG (00494.HK), which released the annual results yesterday:


Broker / Investment Rating / Target Price (HK$)

HSBC / Overweight / $14.3->$13.6
Barclays / Overweight / $13
Nomura / Buy / $11.5->$12.5
Credit Suisse / Neutral / $11.1->$12.2
BNP Paribas / Buy / $12.28->$12
Deutsche / Buy / $12.3->$11.5
JP Morgan / Neutral / $10.5->$11.3
Macquarie / Underperform / $9
UBS / Sell / $7.5


Source: AAStocks Financial News
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Li & Fung 0494

Postby winston » Wed Jul 02, 2014 8:36 am

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JP Morgan lifts Li & Fung target price to $11.3
2014-03-21

LI & FUNG (00494.HK) 2013 core operating profit rose 70% yearly to US$871 million. In the latest research report, JP Morgan said the reading is in line with its estimates or the target of Li & Fung's management.

Meanwhile, the new three-year plan target was set higher than JP Morgan's expectation.

Li & Fung also announced the restructuring and spin-off plan for Global Brands Group. JP Morgan believes it is a right decision, which can offer choices for investors.

The Neutral rating of Li & Fung was maintained as the broker holds prudent attitude toward the profit margin improvement in Global Brands Group.

Due to the positive impact of the spin-off, the target price was lifted from $10.5 to $11.3.

Source: AAStocks Financial News
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Li & Fung 0494

Postby winston » Tue Sep 22, 2015 11:10 am

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<Research Report>BofA Merrill Lynch Upgrades LI & FUNG (00494.HK) to Buy with Target Lifted to $7

Bank of America Merrill Lynch, in its report, stated that there are several catalysts in LI & FUNG (00494.HK), including
1. contribution from new customers and vendor support services,
2. accelerated revenue growth after the expected passage of Trans Pacific Partnership (TPP) agreement.

The broker expected core operating profit to reach 16%/20% growth in 2016/2017E, up from a 5% decline in 2015E.

If TPP agreement passes, it will be implemented in late 2016 and more international brands will source through LI & FUNG to reduce their costs.

Therefore, the broker lifted LI & FUNG's FY2017E earnings by 4%.

LI & FUNG was upgraded from Neutral to Buy and its target price was lifted from $6.2 to $7.

Source: AAStocks Financial News
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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