[ET Net News Agency, 7 December 2023] BofA initiates coverage of Sinotruk (03808) with
a target price of HKD20.6 and a "buy" rating.
The research house said it forecasts 2024 net profit to grow 36% YoY, on the back of 22%
sales growth and moderate margin improvement.
It likes the stock, given (1) China HDT industry's uptrend in 2024-25E; (2) its strong
competitiveness in both the overseas and domestic markets; and (3) undemanding
valuation.(RC)