On June 24, Lao Pu Gold rose 3.12% in regular trading, trading at HKD 414.2/share, with turnover of HKD 112 million, rebounding after multiple consecutive sessions of decline.

On the news front, Nomura recently published a research report reaffirming its Buy rating on Lao Pu Gold with an unchanged target price of HKD 1114, noting the current valuation implies only 9.9x P/E for fiscal year forecasts. Nomura believes that downside risks from gold price volatility leading to slower sales have been largely priced in, and the risk-reward profile remains attractive.

Context shows the stock had been under sustained pressure, with Citi previously cutting its target price sharply from HKD 1162 to HKD 700, citing over 55% pricing premium versus traditional gold jewelers, weaker-than-expected online sales events, and approximately 30% year-over-year decline in nationwide store sales during recent months due to price-sensitive customer attrition. Citi subsequently further trimmed its target to HKD 659 while maintaining a Buy rating, lowering earnings forecasts by 6%-7% but expecting margin expansion to partially offset operational deleverage.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)