Jefferies released a research report on August 16. Analysts John Chou, Lisa Liao and others pointed out that Maotai is speeding up the transformation to a luxury brand operating model. There are two key changes behind this judgment: one is the withdrawal of “Maotai Bank,” and the other is a fundamental shift in pricing philosophy. Based on the DCF valuation, Jefferies gave a benchmark target price of RMB 2,100, which has about 56% upside compared to the current stock price of RMB 1341.99, maintaining the buying rating.

Jefferies released a research report on August 16. Analysts John Chou, Lisa Liao and others pointed out that Maotai is speeding up the transformation to a luxury brand operating model. There are two key changes behind this judgment: one is the withdrawal of “Maotai Bank,” and the other is a fundamental shift in pricing philosophy. Based on the DCF valuation, Jefferies gave a benchmark target price of RMB 2,100, which has about 56% upside compared to the current stock price of RMB 1341.99, maintaining the buying rating.