{I-bank focus}Citi raises Mengniu Dairy (02319) to HKD21.1

  Citi raised the target price for Mengniu Dairy (02319) to HKD21.1 from HKD18.8 and maintained the "buy" rating.
  The research house said given Mengniu's higher exposure to the liquid milk business than others in China's dairy sector, it expects Mengniu's cyclical profit recovery in 2026E to be stronger than industry peers.