Citi Puts Laopu Gold on Positive Catalyst Watch — Market Talk

Laopu Gold's upcoming 618 online promotion from May 15-20 is likely to be a catalyst for stock gains, Citi analyst Tiffany Feng says in a note. The bank has opened a 30-day positive catalyst watch on the stock. Risks to earnings now look limited, as investors appear to have digested concerns over muted same-store sales growth, the analyst says. Citi says investors are encouraged by new growth drivers including its e-commerce expansion into lower-tier Chinese cities. The bank keeps its buy rating on the stock with a HK$1,162 target price. Shares are down 2.4% at HK$569.00.(venkat.pr@wsj.com)