Goldman Sachs released a research report sayinglocowincasinonodepositbonus, upgraded the rating of Uni-President Enterprise China (00220) from "neutral" to "buy". Based on the company's quarterly performance significantly beat expectations and optimistic views on long-term growth of the beverage industry, it raised its net profit forecast from this year to 2026 by 26% to 29%, with a target price of 5locowincasinonodepositbonus.7 Hong Kong dollars was raised to HK$7.3.
The report stated that the company reported strong growth in recurring net profit for the first quarter, up 104% year-on-year, benefiting from strong beverage sales growth momentum (year-on-year growth of more than 10%), gross profit margin expansion of 4 to 5 percentage points and flat year-on-year sales and marketing expenses. The company's management gave a positive sales outlook, with double-digit growth throughout the year and sustainable gross margin expansion amid favorable factors such as efficiency, product portfolio upgrades and cost.