MENGNIU DAIRY Soars 9%; Repurchases Shares with Over $31M after Results
MENGNIU DAIRY (02319.HK) repurchased 2.848 million shares on 23 March and 29 March at a price of $10.78-10.98 per share which involved more than $31 million.
Being the best performer of blue chip, the stock snapped the two-day losing streak and surged 9% today to $11.86, reclaiming 50-day MA ($11.15), on increasing volume to 22.84 million shares.
MENGNIU DAIRY reported 2015 net profit of RMB2.367 billion, up less than 1%.
EPS equaled 60.9 fen. Final dividend fell sharply by 50% yearly to 14 fen.
Credit Suisse and Citigroup cut MENGNIU DAIRY's target price to $12 and $14.4 after results.
Source: AAStocks Financial News