Citi has maintained a Buy rating on MMG despite adjusting its earnings forecasts due to the company's FY25 results and the latest management guidance. The adjustments include a slight decrease in the 2026 earnings forecast and an increase for 2027, along with the introduction of a 2028 forecast. However, the target price has been reduced from HKD12.5 to HKD11.2, reflecting a cautious outlook amid changing earnings expectations.
