
BOCOM International Initiates BUSYMING at Buy with TP HKD542

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BOCOM International has initiated coverage on BUSYMINGwith a Buy rating and a target price of HKD542. The report highlights the restructuring of China's snack industry, with BUSYMING positioned as a leader. The company is expected to expand its store count to nearly 31,000 by 2028, with significant revenue and profit growth projected. BOCOM forecasts an 18% revenue CAGR and a 23% adjusted net profit CAGR from 2025 to 2028, indicating a shift towards profit realization in the mass-retail model.
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