Lee Fung is now up 4.52% Goldman Sachs to maintain buying to see HK $25.5

Li Fung (00494-HK) is now up 4.52%, at HK $21.95, to clinch a deal of HK $129 million, which is now winning the big city, with the index rising 2.53%. Goldman, which maintained its buying rating, also raised its target price from HK $21.50 to HK $25.50, using a 2010-year profit forecast.　　Although the rally has been strong this year, it has not been fully valued, either in absolute or relative terms, the bank said. In addition, the latest US macroeconomic data show that the worst of the decline in consumer spending is over. In addition to stabilizing consumer demand, the apparel inventory cycle will shift from reducing inventory to restocking. Lee Fung is in the early stages of the restocking cycle, added the report.