[ET Net News Agency, 7 August 2019] Morgan Stanley raised its target price for Yue Yuen
Industrial (00551) to HK$26.5 from HK$26 and maintained its "overweight" rating.
The research house said both of Yue Yuen's OEM and retail businesses are highly exposed
to sportswear, mainly correlated to major global brands, i.e., Nike and Adidas. Therefore,
Morgan thinks the company could benefit from the structural upcycle of sportswear market
growth.
Although the market may still be concerned about the trajectory of Yue Yuen's margin
improvement from 2Q (especially given the tough GPM comparison base in 2H), Morgan thinks
the company's commitment to share buybacks and a stable cash dividend could provide
certain downside support, on top of low valuation. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00551 YUE YUEN IND
Nominal 
14.100 +0.300 (+2.174%) Others
07/08/2019 10:08
{I-bank focus}Morgan raises Yue Yuen Industrial to HK$26.5
| Remark: | Real time quote last updated: 20/09/2024 18:00 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |