Sun Art’s FVE Raised by 15% to HKD 7.8 Per share on Better Sales Outlook
Our fair value estimate of no-moat Sun Art has been raised to HKD 7.8 per share from HKD 6.8 per share, and the shares remain fairly valued. We think the rollout of one hour delivery to all RT mart stores will gradually improve sales going forward. Bottom line will also benefit from gradually reduced losses in the e-commerce business. Our five-year CAGR in revenue and net income have been increased from 2.4% to 5.7%, and from 9.2% to 11.9%, respectively.Revenue for the third quarter grew at 2.4...
Sun Art Retail Group is an investment holding company, engaged in the operation of hypermarkets in the People's Republic of China (PRC), under two banners of Auchan and RT-Mart. As of Dec 31 2014, Co. had a total of 372 hypermarket complexes in China, with a total gross floor area of approximately 10,277,525 sq. m.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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