[ET Net News Agency, 15 May 2020] J.P. Morgan raised its target price for China Feihe
Limited (06186) to HK$15 from HK$13.8 and upgraded its rating to "overweight" from
"neutral".
The research house said Feihe was down 11% yesterday, underperforming by 15% since the
end of April. JPM said its downgrade a month back was predicated on the stock's strong
rally warranting a breather, and the post IPO lockup lift possibly opening up a better
entry opportunity. Both of these now appear to have played out to a reasonable degree.
It now sees Feihe's proposed end May MSCI inclusion shifting technicals from a stock
price headwind to a stock price tailwind. The stock ranks attractively in the top decile
on growth and quant style factors. JPM sees opportunity in the sharp pullback. (KL)
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06186 CHINA FEIHE
Nominal 
4.290 +0.130 (+3.125%) Research Report
15/05/2020 18:01
{I-bank focus}JPM upgrades China Feihe (06186) to HK$15
| Remark: | Real time quote last updated: 23/04/2024 17:30 |
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