CMC Securities: is raising its target price for Nongfu Spring (09633.HK) to 57.75 Hong Kong dollars and rating it as "buy"

According to the Securities Times APP, Zhongying International released a research report stating that Nongfu Spring (09633.HK) achieved a 15.6% year-on-year increase in revenue in the first half of the year, in line with expectations. Net profit increased by 22% year-on-year, exceeding expectations, benefiting from the recovery of the water business, strong performance of tea drinks/functional beverages/fruit juice business, and effective cost control, especially raw material cost control. The bank raised its target price from 46.74 Hong Kong dollars to 57.75 Hong Kong dollars and maintained its "buy" rating.