CICC: Raises the target price of NEWBORNTOWN to HKD 14.5, maintains "Outperform Industry" rating
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CICC released a research report stating that NEWBORNTOWN's revenue for the first three quarters is expected to grow by 37.6% to 39.9% year-on-year, with an anticipated reach of RMB 4.91 billion to 4.99 billion. The firm maintains its revenue and profit forecasts for NEWBORNTOWN for this year and next, reiterating an "outperform the industry" rating and raising the target price by 7.4% to HKD 14.5
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