Yamato: Chow Daifuku (01929) is rated to “outperform the market” with a target price of HK$13.7

The Zhitong Finance App learned that Yamato released a research report saying that it downgraded the rating of Zhou Taifuku (01929) from “buy” to “outperform the market”, believing that the gold price trend still lacks a clear direction. Same-store sales growth may also slow down after a strong start to the first quarter of FY2027 ending at the end of June. The bank still favors Chow Tai Fook in gold and jewellery stocks. It believes that the company has good profit prospects. The dividend yield of 6% is attractive, and the target price of HK$13.7 remains unchanged.