onlinepokernodeposit| Morgan Stanley: Give Gaoxin Retail a rating target price of HK$1.6 for "keeping pace with the market"

Morgan Stanley released a research report saying that it is expected that the share price of Gaoxin Retail (06808) will rise in the next 60 days. The probability of this happening is expected to reach 60% to 70%, with a target price of 1onlinepokernodeposit.6 Hong Kong dollars and is rated "in sync with the market". The food consumer price index (CPI) remains negative, but the composition is changing. In April, pork turned positive year-on-year, while fruits and eggs turned negative. Historically, pork prices have had a greater impact on Gaoxin Retail's same-store sales, and recently pork prices have been climbing on a weekly basis.

The report stated that Gaoxin Retail's potential improvement in same-store sales was a key factor driving stock price rise. The company's current share price is about 70% of the bank's conservative estimate of net asset value (NAV) per share of 2.5 yuan, which the bank assumesonlinepokernodepositA provision of RMB 8 billion was made to close about 200 stores. If its same-store sales improve and profits improve, the bank believes the value it has locked in can be released. Positive signs are that same-store sales fell 6% to 7% from January to March, down 2.8% in April, and up about 6% so far in May. Compared with the 2019 level, the decline in same-store sales in April and May narrowed significantly.