[ET Net News Agency, 3 December 2019] Daiwa Research tweaked its target price for
Shenzhou International Group (02313) to HK$134 from HK$132 and maintained its "buy"
rating.
The research house has recently attended Shenzhou's reverse roadshow to see its
production facilities in Vietnam and Cambodia. Daiwa said the continued smooth ramp-up of
production in both countries gives the research house greater conviction in Shenzhouu's
ability to maintain double-digit top-line growth for 2020.
Daiwa looks for low-to-mid teen volume growth for 1H 2020, but it expects a more evident
pick-up in 2H 2020 (mid-high teen growth), primarily underpinned by the ramp-up from its
Gain Lucky garment facility in Vietnam.
It raised its 2020-21 revenue and core EPS estimates by 1-2% to reflect its more upbeat
volume growth assumption. (KL)
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02313 SHENZHOU INTL
Nominal 
73.350 0.000 (0.000%) Research Report
03/12/2019 09:37
{I-bank focus}Daiwa tweaks Shenzhou Int'l (02313) to HK$134
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