Jefferies cuts target for CTG Duty Free stock to CNY 57.20
Published on 10/09/2026 at 12:17 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSKey points in brief
- Jefferies cut its CTG Duty Free target from CNY 69.00 to CNY 57.20 on August 25, 2026, maintaining Hold.
- First-half 2026 net profit rose 19.49 percent to CNY 3.11 billion while revenue fell 1.76 percent.
- The Shanghai-listed stock was last at CNY 50.88 on October 9, 2026, up 0.37 percent from CNY 50.69.
CTG Duty Free (CNE100000G29) was last at CNY 50.88 on the Shanghai Stock Exchange on October 9, 2026, up 0.37 percent from CNY 50.69. On August 25, 2026, Jefferies had cut its target from CNY 69.00 to CNY 57.20 and kept a Hold rating, according to MarketScreener.
Jefferies lowers the valuation bar
The revised CNY 57.20 target lies 12.42 percent above the CNY 50.88 Shanghai quote. The change gives investors a clear counterpoint to the company's improving profit mix: the target was reduced even as first-half earnings advanced.
What does the first half show?
In the first half of 2026, revenue fell 1.76 percent year over year to CNY 27.66 billion, while net profit attributable to shareholders rose 19.49 percent to CNY 3.11 billion, Futunn reported on October 4, 2026. Hainan revenue increased 23.40 percent to CNY 18.55 billion, while overall gross margin reached 33.90 percent, up 1.14 percentage points year over year.
Three dated signals for the stock
On March 20, 2026, the fiscal-year 2025 net income estimate shown by MarketScreener was CNY 3.59 billion. On April 29, 2026, the same financial calendar listed first-quarter 2026 net income at CNY 2.35 billion. On August 25, 2026, Jefferies reduced the target to CNY 57.20 from CNY 69.00, according to MarketScreener.
The next reporting date is October 23
Investing.com lists October 23, 2026 as the next earnings date for the group. The upcoming report will show whether stronger Hainan sales can offset pressure in airport duty-free operations after the first half.
Shanghai quote and market value
CTG Duty Free's CNY 50.88 quote was 0.37 percent above the CNY 50.69 prior close at 3:00 p.m. CST on October 9, 2026. The finance quote showed a market capitalization of CNY 99.3 billion and a 52-week range of CNY 50.20 to CNY 99.81. Global Banking and Finance identifies 601888.SS as the Shanghai listing under ISIN CNE100000G29.
CTG Duty Free stock facts
- Company: China Tourism Group Duty Free Corporation Limited
- ISIN: CNE100000G29
- Ticker: 601888
- Primary exchange: Shanghai Stock Exchange
- Price Shanghai Stock Exchange (as of October 9, 2026, 3:00 p.m. CST): CNY 50.88
- Change versus prior close: plus 0.37 percent
- Prior close (October 9, 2026): CNY 50.69
- Market capitalization: CNY 99.3 billion (as of October 9, 2026)
- 52-week range: CNY 50.20-CNY 99.81 (as of October 9, 2026)
- Sector / Industry: Consumer Cyclical / Specialty Retail
Market context: Market report Shanghai Composite.
