[ET Net News Agency, 16 August 2019] Credit Suisse lifted its target price for Sinotruk
(Hong Kong) (03808) to HK$11 from HK$9.3 and upgraded its rating to "neutral" from
"underperform".
The research house said Heavy Duty Truck (HDT) July sales rose 1.5% to 76k units after
declining over April-June. Credit Suisse believes Sinotruk's current share price factors
in the weak 3Q HDT sales due to the government's proactive control on plate registration
to resolve the overload issue of light/heavy construction trucks.
Credit Suisse lifted its 2019-21 EPS forecasts by 21-23% on higher margin and volume
assumption. (KL)