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Research Report

06/05/2021 16:40

{I-bank focus}JEF starts CRRC Times Elec (03898) at HK$40.9

[ET Net News Agency, 6 May 2021] Jefferies Research initiated coverage on Zhuzhou CRRC
Times Electric (03898) with a "buy" rating and target price of HK$40.9.
The research house said CRRC Times Electric CTE has proven capability in designs,
manufacture, and selling IGBT (insulated gate bipolar transistor), given its technology
accumulation in HSR (High-speed Rail) and urban railway industry.
Jefferies is constructive on its market share gains under the backdrop of domestication
and EV (electric vehicle) application. It expects the upcoming dual-listing on STAR Board
to trigger a re-valuation given more generous multiples applied in the A-share market.
Jefferies modeled for earnings expansion of 8.3%/8.5% in FY2021/22. (KL)

Remark: Real time quote last updated: 26/11/2021 17:59
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