Citi lowers LAOPU GOLD target price to HK$400, maintains "Buy" rating

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Citi has released a research report stating that it has lowered its target price for LAOPU GOLD (06181) from HK$507 to HK$400, maintained its "Buy" rating, and cut its earnings forecasts.

The bank expects the company's sales to improve sequentially in the third quarter of 2026, but net profit performance will be relatively weak, as gold price fluctuations continue to weigh on consumer sentiment, further delaying the anticipated earnings recovery.

Citi believes that investors have underestimated LAOPU GOLD's competitive advantages, and are currently overly concerned about competition. The company's current valuation is attractive.

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