JPMorgan maintains a positive outlook on LAOPU GOLD despite a 22% decline in shares since April, attributing this to concerns over retail sales and gold price volatility. They believe demand remains strong, the likelihood of a share placement is low, and distribution channels are improving. With an attractive risk-reward profile and low price-to-earnings ratios forecasted for 2026 and 2027, they raised earnings forecasts and maintained an Overweight rating, setting a target price of HKD1,296.
