Citi Research issued a Buy rating for CHOW TAI FOOK due to a positive profit alert, expecting a significant increase in net profit for FY2026 driven by rising gold prices, improved sales mix, and effective cost control. Despite concerns about potential peak gross margins, Citi believes these risks are already reflected in the stock price, which is considered attractively valued with a forward P/E ratio of 12x and a 7% dividend yield.
