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01766 CRRC
RTNominal down3.800 -0.010 (-0.262%)
Research Report

13/01/2020 14:12

{I-bank focus}Daiwa raises CRRC Corp (01766) to HK$6.4

[ET Net News Agency, 13 January 2020] Daiwa Research raised its target price for CRRC
Corp (01766) to HK$6.4 from HK$5.9 and maintained its "outperform" rating.
The research house expects CRRC's railway equipment business revenue to recover in 2020,
especially for MUs (multiple units), as the industry enters a strong delivery cycle for
metro cars and rolling stock maintenance services over 2020-21.
Daiwa expects more than 1,000km of new urban transit lines to be put into use in 2020
(versus 969km in 2019, a historical high), with the new lines boosting demand for metro
cars. It revised up its 2019-21 EPS forecasts by 0.4-0.7% to factor in its new forecasts
for rolling stock delivery. (KL)

Remark: Real time quote last updated: 25/05/2020 17:58
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