[ET Net News Agency, 19 February 2021] Credit Suisse lifted its target price for Lee &
Man Paper Manufacturing (02314) to HK$9.3 from HK$6.6 and maintained its "outperform"
rating.
The research house said price hike to be gradually carried out post CNY, positive on
near-term demand recovery. Major paper manufacturers announced they would increase
packaging paper price by Rmb100-300/t before CNY.
Together with the production halt during the festival, inventory at paper mills is
relatively low at the current level. Credit Suisse believes this will support paper prices
when demand starts to pick up.
It revised up its 2020/21/22 earnings forecasts by 13.3%/9.4%/5.9% to reflect higher
volume sales and profit margins assumptions. (KL)
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02314 LEE & MAN PAPER
Nominal 
2.310 +0.010 (+0.435%) Others
19/02/2021 11:04
{I-bank focus}Credit Suisse lifts Lee & Man Paper to HK$9.3
| Remark: | Real time quote last updated: 19/04/2024 18:00 |
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