UBS Group: Downgraded SMOORE INTL rating to "Sell" and raised Target Price to HKD 10.72.

UBS Group released a research report stating that it has downgraded SMOORE INTL (06969) from "Neutral" to "Sell," primarily due to high valuations and a relatively conservative view on the profit contribution of British American Tobacco's new heat-not-burn (HNB) products to its core customers. After BAT announced the launch of its new HNB products, SMOORE's stock price has risen by about 35%, indicating that investors are bullish on its prospects. The Target Price has been raised from 7.5 HKD to 10.72 HKD. However, UBS expects BAT to officially launch this new product in the second half of this year, and actual results may not be observable until next year.

Sina Hong Kong StocksJan 10 16:58

Legal Cannabis May Be Boosted by Alcohol Warning From Surgeon General: Analyst

MarketWatchJan 7 21:29

British American Tobacco Executes Share Buyback

TipRanksJan 7 15:12

The Return Trends At British American Tobacco (LON:BATS) Look Promising

Yahoo FinanceJan 7 13:17

Behind the doubling of Smoore's sales in a year, has the e-cigarette market improved again?

Last year, there were only a few companies in the Hong Kong stock market that doubled in value, mostly those with significantly improved fundamentals. These stocks generally had previously unfavorable market expectations, and as concerns were invalidated, they rebounded substantially from the bottom. The electronic cigarette Industry has also been quiet for a long time. After the restructuring of the electronic cigarette market in 2022, domestic demand has remained depressed, and most companies in the Industry inevitably experienced performance declines. Even today, most companies have still not been able to regain growth. Under this premise, last year, $SMOORE INTL (06969.HK)$ successfully doubled its value.

YY HK StocksJan 3 19:37

Argus Research Remains a Hold on British American Tobacco (BTI)

TipRanksJan 2 21:45 · Ratings