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03969 CHINA CRSC
RTNominal down2.980 -0.030 (-0.997%)
Others

03/07/2020 11:28

{I-bank focus}Daiwa lowers China CRSC (03969) to HK$4.3

[ET Net News Agency, 3 July 2020] Daiwa Research lowered its target price for China
Railway Signal & Communication (CRSC)(03969) to HK$4.3 from HK$4.6 and maintained its
"buy" rating.
The research house cited CRSC management noting positive new order growth for both
railway and urban transit (URT) segments for 5-month 2020, while construction new orders
shrank, and hence total new orders may remain flat for 1H (-9.2% in 1Q). Revenue for 1H is
likely to record negative growth on less project execution. The company looks for positive
growth in revenue, net profit, and new orders in 2020.
Daiwa cut its 2020-22 core EPS forecasts by 1% to reflect its new growth assumptions.
(KL)

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