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Citi lifts WH Group (00288) to HK$9.46

  Citi Research raised its target price for WH Group
(00288) to HK$9.46 from HK$8.9, and reiterated its "buy" rating.
  The research house believes the market has been overly concerned about the negative
impact of escalated Sino-US trade tension on Smithfield, which has developed a diversified
portfolio of export markets and a vertically integrated business model (in both US and 
Europe) to mitigate risk of a bilateral trade relationship.
  Benefit of US tax reform will also reduce its earnings risk associated with China sales
volume in 2018 and onwards, Citi added.
  It noted that management expects its packaged meat volume to grow by high-single digit 
and fresh pork volume to expand by double digits in 2018. They also anticipated its
packaged meat EBIT margin in 2018 to be higher than that in 2017. 

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