[ET Net News Agency, 13 November 2019] Daiwa Research lowered its target price for
Kerry Logistics Network (KLN)(00636) to HK$14.4 from HK$15.5 and maintained its "buy"
rating.
The research house cited KLN management expressing a cautious outlook in view of the HK
protests and the US-China trade war, which could increase business pressure in 2020.
Benefitting from the continued trade war disruption, KLN's business in Asia and Taiwan
rose significantly, offsetting HK and China. With mixed performance in different regions,
management was confident in meeting its target of mid-single-digit core net profit growth
in 2019.
Daiwa cut its 2020-21 EPS forecasts by 14-17% to reflect the tougher-than-expected
market situation. (KL)
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00636 KERRY LOG NET
Nominal 
7.500 0.000 (0.000%) Others
13/11/2019 11:32
{I-bank focus}Daiwa lowers Kerry Log Net (00636) to HK$14.4
| Remark: | Real time quote last updated: 23/04/2024 17:59 |
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