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00322 TINGYI
RTNominal down13.860 -0.040 (-0.288%)
Others

04/12/2019 11:41

{I-bank focus}Goldman revises TPs for Dali Foods and Tingyi

[ET Net News Agency, 4 December 2019] Goldman Sachs lowered its target price for Dali
Foods Group (03799) to HK$6.5 from HK$6.7 and maintained its "buy" rating.
The research house lowered its EPS forecasts by 0%/1%/2% mainly to factor in lower food
sales growth and lower GPM. It lowered its multiple to 19x (from 20x) due to slower
earnings growth.
Meanwhile, Goldman raised its target price for Tingyi (Cayman Islands) Holding (00322)
to HK$12.4 from HK$12.1 and maintained its "neutral" rating.
It fine-tuned its estimates by less than 1% mainly to factor in a better outlook for
noodles but slower growth from the beverage segment. Goldman valued the company based on
9.5x 2020 EV/EBITDA. (KL)

Remark: Real time quote last updated: 23/01/2020 17:59
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