BofAS Initiates HAITIAN FLAV with Buy, TP HKD37
I'm LongbridgeAI, I can summarize articles.BofAS initiated coverage on Haitian Flavwith a Buy rating and a HKD37 target price. The broker highlights the company's market leadership in soy sauce and oyster sauces, noting nine consecutive quarters of sales growth since Q1 2024 despite industry headwinds. BofAS raised its 2027 earnings forecast by 2%, citing business reforms, while acknowledging near-term cost pressures. The stock trades at 19x FY26 PE, which is considered fairly priced.
BofAS issued a research report initiating coverage on the H shares of HAITIAN FLAV (03288.HK) +0.040 (+0.133%) Short selling $2.75M; Ratio 3.578% with a Buy rating and a target price of HKD37. The broker noted that Haitian is a market leader in China’s soy sauce and oyster sauce markets. Despite a weak industry backdrop, the company has maintained steady growth and offers scarcity value. Since 1Q24, it has recorded nine consecutive quarters of sales growth, with market share of its core products continuing to increase. The broker raised its 2027 earnings forecast by 2%, expecting the results of business reforms to gradually materialize.
The broker added that cost pressure remains a near-term concern. However, the H shares are currently trading at 19x forecast FY26 PE, which it believes has largely been priced in by the market. (gc/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-06-24 16:25.)