[ET Net News Agency, 8 January 2020] Daiwa Research raised its target price for Fuyao
Glass Industry (03606) to HK$27 from HK$25 and reiterated its "outperform" rating.
The research house expects Fuyao to record 11-15% earnings growth in 2020-21 after a
22% decline for 2019, mainly driven by a recovery in China's autos market, ramp-up of its
US plant, and narrowing losses from the newly acquired SAM Automotive.
Daiwa forecast China's autos sales volume to recover by 3% in 2020 after a 10% decline
in 2019. It views Fuyao as one of the largest beneficiaries given domestic sales
contributed 52% to its sales in 2019. It forecast 4% revenue growth for Fuyao's domestic
business in 2020. (KL)
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03606 FUYAO GLASS
Nominal 
41.250 -0.200 (-0.483%) Others
08/01/2020 11:46
{I-bank focus}Daiwa raises Fuyao Glass (03606) to HK$27
| Remark: | Real time quote last updated: 23/04/2024 17:59 |
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