JP Morgan rates as Overweight (1) - The company's investor briefing provided some clarity for the broker. JP Morgan finds strong growth potential in the B2B division and is encouraged by the 5-year earnings growth target.
The core brand is strong while guidance for FY15 is considered a little soft because of a break even result expected for Zuji Hong Kong.
An Overweight rating is retained. Target is raised to $3.80 from $3.45.
WEB Price at posting:
$2.72 Sentiment: Hold Disclosure: Held
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