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<Research>M Stanley Expects CN Sep Retail Demand to Struggle for Significant Recovery; Focus on Consumer Stocks' Recovery Speed & Price Trends
Recommend 9 Positive 27 Negative 16 |
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Mainland China's retail sales growth in August continued to ease to 3.4%, compared to 3.7% in July, falling short of the market expectation of 3.8%, reflecting persistently weak consumer demand, Morgan Stanley's research report indicated. As for September, under a deflationary environment and the fading effect of subsidies, the broker forecast demand to struggle for a significant recovery. Regarding stocks, the broker believed that the focus in 2H25 will be on the speed of recovery, with price trends being a key factor influencing stock re-rating; and consumer-driven policies may provide some support for demand sentiment. Among high-growth stocks, the broker favored POP MART (09992.HK) and GIANT BIOGENE (02367.HK), with target prices of HKD382 and HKD78, respectively, both rated as Overweight. For companies with resilient earnings and stable shareholder returns, including Yum China (YUMC.US) and ANTA SPORTS (02020.HK), target prices were set at USD57 and HKD128, respectively, both rated as Overweight. AASTOCKS Financial News Website: www.aastocks.com |
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