Goldman Sachs lowers target price for Haidilao (06862.HK) to 13.7 yuan, cuts profit forecast

Golden Ten Data reported on August 30 that Goldman Sachs issued a research report pointing out that Haidilao (06862. HK) store expansion in the first half of the year was slower than expected, based on the high base and the weakening consumer market led to a decline in store efficiency, and it is expected that the sustainability of the upward trend of turnover rate and the momentum of business rise will become the focus of investors in the second half of the year. Goldman Sachs lowered Haidilao’s 2024-2026 profit forecast by 4% to 6% to reflect the slowdown in store expansion and the weakness of the overall consumer market, and lowered the target price to HK$13.7 from HK$15, maintaining a “neutral” rating.