[ET Net News Agency, 24 September 2020] Huatai Research raised its target price for
Shenzhou International (02313) to HK$143 from HK$104 and maintained its "buy" rating.
The research house believes Shenzhou has strengthened its market leadership position
during the COVID-19 pandemic, thanks to its vertically-integrated capacity located
domestically and overseas, rapid response to changing customer demands, concern for its
staff, and social responsibility.
As a result, it achieved resilient revenue growth (up 2.3% excluding the discontinued
retail business) and GPM (flattish) in 1H. Shenzhou's order growth has recovered in 3Q and
visibility has improved.
Meanwhile, advanced hiring ensures its capacity expansion will be sufficient to meet
customer demand in the future. Huatai estimated Shenzhou's net profit growth will rebound
to 6.5% in 2H. (KL)
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23770 EA-HKEX@EC2506A (CALL)
Nominal 
0.100 -0.013 (-11.504%) 24/09/2020 11:21
{I-bank focus}Huatai raises Shenzhou Int'l (02313) to HK$143
| Remark: | Real time quote last updated: 19/04/2024 18:00 |
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