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Goldman Sachs raises target price for Mixue and Gu Ming, maintains "Buy" rating.
Jin10 data reported on August 6th that Goldman Sachs raised its net profit forecasts for Gu Ming (01364.HK) and Mi Xue Group (02097.HK) by 9% and 1% this year, reflecting the longer-than-expected duration of food delivery subsidies, and raised Gu Ming's profit forecast for next year by 4%, reflecting the robust performance of new products and efforts in brand investment for 2024 to 2025. The bank raised its target price for Gu Ming from HKD 29.2 to HKD 30, and Mi Xue's target price from HKD 597 to HKD 599, with both ratings being "Buy."