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RTNominal up105.100 +6.050 (+6.108%)

10/07/2020 16:48

{I-bank focus}Jefferies ups Shenzhou Int'l (02313) to HK$110

[ET Net News Agency, 10 July 2020] Jefferies Research lifted its target price for
Shenzhou International Group Holdings (02313) to HK$110 from HK$100 and maintained its
"buy" rating.
The research house said both Uniqlo and Adidas have launched washable masks. Jefferies
estimated that Shenzhou is one of the key suppliers. Although the ASP of the facial mask
is lower than apparel, Jefferies forecast significant volumes.
It expects 1H sales to grow 3%, thanks to (1) resilient Summer and Autumn 2020 orders,
(2) potential recognition of delayed shipments, and (3) Shenzhou has shipped a significant
amount of facial masks in 1H.
Jefferies forecast Shenzhou's 1H earnings to decline by 8% mainly as (1) the production
is interrupted by Covid-19 and (2) Shenzhou may choose to adjust its capacity in China.

Remark: Real time quote last updated: 11/08/2020 17:58
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