Jinwu Financial News | SPDB International Development Research Report believes that the significance behind the US stock listing of Tehai International (09658) mainly includes the following aspects: 1) enhancing brand power and popularity and speeding up the pace of expansion; 2) improving stock liquidity and raising the valuation level; 3) sufficient capital will accelerate the pace of expansion.
The bank believes that the company should enjoy a higher valuation than domestic catering players, considering that Te Hai's strong turnover rate trend and the global layout brings great potential for growth. For the first time, it covered Tehai International's US stock (HDL.US), giving it a “buy” rating, with a target price of $26.7. Corresponding to the target price of US stocks, the bank raised the target price of TEHAI's Hong Kong stock to HK$20.8 (previously HK$18.6), maintaining a “buy” rating.