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Macquarie initiated coverage on Mao Geping Cosmetics Co (1318:HK) with an outperform rating and a price target of HK$130.00, citing the company’s strong position as a premium domestic brand in China’s cosmetics market.
The research firm highlighted Mao Geping’s expert-curated product portfolio as a key differentiator in both the color cosmetics and skincare segments, according to a note released Monday.
Macquarie noted that the company’s color cosmetics line is competitively priced compared to premium international competitors, which has helped Mao Geping effectively gain market share in China.
The firm’s positive outlook is reinforced by observations from CR mixc lifestyle, luxury expert and CTG Duty Free, which have indicated growing presence of domestic brands in retail spaces and consumer awareness.
Macquarie sees significant growth potential for Mao Geping given its current small scale, with the analyst stating: "This reinforces our positive view on Maogeping as we see more runaway for growth given its small scale now."
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