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03898 CRRC TIMES ELEC
RTNominal up27.400 +0.100 (+0.366%)
Others

28/10/2019 17:46

{I-bank focus}Citi trims CRRC Times Elec (03898) to HK$43.3

[ET Net News Agency, 28 October 2019] Citi Research lowered its target price for
Zhuzhou CRRC Times Electric (03898) to HK$43.3 from HK$48 and maintained its "buy" rating.
The research house said CRRC's 9-month earnings printed at RMB1.5bn (+1%) with 3%
revenue growth. The implied 3Q earnings edged down 1% (core earnings -5%), 3Q GPM was
stable at 38.5%, versus 38.9% as of 3Q, but EBIT margin contracted 314bps on surging
warranty for new products.
Citi cut its FY2019-21 EPS forecasts by 10%, mainly on lower Locomotives and Rail
Maintenance Machineries. (KL)

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