Quote | Super Quote
Super Quote   |   Detail Quote   |   Interactive Chart   |   Transaction   |   Related News   |   Related Securities   |   Company Information   |   Dividend Records   |   Short Sell
02313 SHENZHOU INTL
RTNominal up74.100 +1.400 (+1.926%)
Others

07/08/2019 11:09

{I-bank focus}Morgan lifts Shenzhou Int'l (02313) to HK$120

[ET Net News Agency, 7 August 2019] Morgan Stanley lifted its target price for Shenzhou
International Group Holdings (02313) to HK$120 from HK$105 and maintained its "overweight"
rating.
The research house said Shenzhou structurally is one of the most exposed OEMs to
sportswear servicing top global brands including Nike, Adidas, and Puma while also
obtaining more orders from top China domestic brands such as ANTA and Li Ning, placing it
in a strong position within the sportswear supply chain.
Morgan thinks the company can benefit from better ASP from major customers such as
Adidas in 2019 as customers are securing capacity, along with further efficiency
improvements, particularly in overseas factories, driving 14% top-line growth YoY (despite
further winding down its retail business).
Although 1H GPM will have to grow against a high base and there is some expense pressure
from social insurance premiums, Morgan still expects Shenzhou to expand GPM by 1.0ppt and
OPM by 2.0ppt in 2019. Morgan is looking for the company to grow earnings by 21% in 2019.
With full-year contribution from the Vietnam garment factory phase II and partial help
from the new Cambodia plant in 2020, Morgan expects both of Shenzhou's top-line and
earnings growth to accelerate, growing at 17% and 23%, respectively. (KL)

Remark: Real time quote last updated: 28/03/2024 18:00
  Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service
A Member of HKET Holdings
Customer Service Hotline:(852) 2880 7004     Customer Service Email:cs@etnet.com.hk
Copyright 2024 ET Net Limited. http://www.etnet.com.hk ET Net Limited, HKEx Information Services Limited, its Holding Companies and/or any Subsidiaries of such holding companies, and Third Party Information Providers endeavour to ensure the availability, completeness, timeliness, accuracy and reliability of the information provided but do not guarantee its availability, completeness, timeliness, accuracy or reliability and accept no liability (whether in tort or contract or otherwise) any loss or damage arising directly or indirectly from any inaccuracies, interruption, incompleteness, delay, omissions, or any decision made or action taken by you or any third party in reliance upon the information provided. The quotes, charts, commentaries and buy/sell ratings on this website should be used as references only with your own discretion. ET Net Limited is not soliciting any subscriber or site visitor to execute any trade. Any trades executed following the commentaries and buy/sell ratings on this website are taken at your own risk for your own account.