According to a research report published by Merrill Lynch, Yintai Department Store (1833. HK) is a mispriced stock with good asset quality, so it maintains a "buy" rating, with a target price of HK $8.3.
The bank said that Yintai recently purchased properties with superior geographical location as future stores, and it is expected that the potential for asset appreciation is huge. It was also pointed out that Yintai's expansion of flagship stores and the upcoming opening of new stores in Zhejiang Province were all long-term positive.
