DJ Bestore's Revenue May Be Driven by New Online Sales Channels -- Market Talk
0251 GMT - Bestore's new online sales channels such as Douyin could help support its revenue over the longer term, as more consumers are shifting to these platforms from traditional online sales channels, Daiwa Capital says. The confectionery company's efforts to create more new products are also positive, and its new products could contribute 20%-30% to the company's 2021 revenue, Daiwa says. The Japanese bank's forecast for Bestore's 2021-23 EPS are 10%-24% above consensus as it believes Bestore's operating margins may rise faster than the street's expectation in its omni-channel sales. Daiwa maintains a buy rating and raises its target price to CNY88 from CNY85. Shares are 0.9% lower at CNY48.48. (justina.lee@wsj.com)
(END) Dow Jones Newswires
May 20, 2021 22:51 ET (02:51 GMT)
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