Goldman Sachs Raises East Buy Target Price to HK$13.6 Amid Higher Revenue Forecasts

Goldman Sachs has increased its target price for East Buy (01797.HK) from HK$12.4 to HK$13.6, while maintaining a 'Sell' rating.

The bank's revised upward revenue forecasts for fiscal years 2026-2028 ending May 31 reflect higher gross merchandise value, with increases ranging from 4% to 16%, according to Zhitong Finance APP.

However, adjusted net profit forecasts were revised downward by 8% for FY2026 and upward by 2% and 4% for FY2027 and FY2028, respectively, due to higher sales expenses and stock-based compensation.