[ET Net News Agency, 15 July 2019] CICC Research lowered its target price for Tingyi
(Cayman Islands) Holding (00322) by 2.5% to HK$17.9 and maintained its "outperform"
rating.
The research house expects Tingyi's 1H revenue to remain flat with 3% growth in instant
noodles and 2% decline in beverages. It expects 1H net profit to grow 5% and may beat
expectations thanks to lower financial cost s as well as deductibles from deferred income
tax.
It said Tingyi's asset optimization gains should boost earnings and cash flow in 2019.
It's plan to upgrade products starting in 2020 bodes well for improving profit margin.
CICC cut its 2019-2020 earnings forecast by 2% and 2.2%. (KL)
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00322 TINGYI
Nominal 
8.820 +0.180 (+2.083%) Others
15/07/2019 17:37
[I-bank focus]CICC Research lowers Tingyi (00322) to HK$17.9
| Remark: | Real time quote last updated: 26/04/2024 17:19 |
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