Not vested. PE 32 for a supermarket ?
DJ MARKET TALK: DB Raises Lianhua Target 34.5% To HK$26.45
1429 [Dow Jones] STOCK CALL: Deutsche Bank raises Lianhua Supermarket (0980.HK) target price to HK$26.45 from HK$20.30 after increasing FY10-11 earnings forecasts by 8%-11% as believes previous same-store sales growth assumption of 2%-3% too conservative, doesn't reflect in-house CPI assumptions; says Lianhua's SSS growth related to CPI, there is also correlation between SSS growth and profit growth by segment.
Adds, this backed by Lianhua's 4Q09 SSS growth, which turned positive. Keeps at Buy. Stock +1.1% at HK$22.60 midday.
Source: Dow Jones Newswire