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RTNominal up27.400 +0.100 (+0.366%)

28/08/2019 10:16

{I-bank focus}Daiwa cuts CRRC Times Elec (03898) to HK$34

[ET Net News Agency, 28 August 2019] Daiwa Research lowered its target price for
Zhuzhou CRRC Times Electric (03898) to HK$34 from HK$49 and maintained its "hold" rating.
The research house said CRRC's 1H net profit of CNY1,066m was well short of Daiwa's
full-year forecast, due to lower product deliveries, along with increased SG&A expenses.
The company foresees moderate net profit growth for 2019. Daiwa lowered its 2019-20 EPS
forecasts by 10-14% to reflect the weaker 1H results and its new revenue assumptions for
rolling stock delivery and new businesses. (KL)

Remark: Real time quote last updated: 24/01/2020 17:59
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