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Investing.com - HSBC initiated coverage on Mao Geping Cosmetics Co (HK:1318) with a Buy rating and a price target of HK$131.70 on Friday.
The Chinese premium cosmetics brand, created by renowned make-up artist Mao Geping, stands as the only domestic player among the top 10 premium beauty groups operating in China, according to HSBC.
The bank expects Mao Geping’s growth to significantly outperform the market as it benefits from consolidation in the premium segment by capitalizing on its brand power.
HSBC highlighted the company’s understanding of domestic consumer preferences for products that cater to Asian aesthetics, skin types, and beauty standards as a key competitive advantage.
The investment firm forecasts a revenue CAGR of 31% and a net profit CAGR of 35% during 2024-27, with its 2025 net profit estimate running 9% above consensus.
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