[ET Net News Agency, 16 January 2020] Citi Research lifted its target price for Johnson
Electric (00179) to HK$23.5 from HK$22.5 and maintained its "buy" rating.
The research house cited Johnson Chairman from a conference giving sales guidance after
the trade war which has lingered between the US and China for more than a year, such that
FY2020 sales to be slightly lower than a year ago compared with a 7% decline during 1H
FY2020. This came in slightly better-than-expected, Citi noted.
Citi raised its FY2020-22 EPS forecasts by 2% mainly due to higher sales assumptions.
The key takeaway of 3Q FY2020 number is APG (industry products group) has recovered at a
faster pace than IPG. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00179 JOHNSON ELEC H
Nominal 
10.800 +0.300 (+2.857%) Others
16/01/2020 17:58
{I-bank focus}Citi lifts Johnson Electric (00179) to HK$23.5
| Remark: | Real time quote last updated: 26/04/2024 15:08 |
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