Quote | Super Quote
Super Quote   |   Detail Quote   |   Interactive Chart   |   Transaction   |   Related News   |   Related Securities   |   Company Information   |   Dividend Records   |   Short Sell
01316 NEXTEER
RTNominal up3.680 +0.110 (+3.081%)
Others

06/02/2020 17:07

{I-bank focus}Nomura upgrades Nexteer (01316) to HK$8.2

[ET Net News Agency, 6 February 2020] Nomura raised its target price for Nexteer
Automotive (01316) to HK$8.2 from HK$7 and upgraded its rating to "buy" from "neutral".
The research house believes FY2019 should represent a trough of Nexteer's earnings, and
Nomura sees multiple engines to drive an earnings turnaround starting this year.
But it trimmed its FY2019 US revenue/net profit by US$100mn/28mn to reflect an order
loss as a result of the GM labor strike during five weeks in October-November 2019.
It noted that utilization of the Saginaw site has shown signs of normalization since
December 2019 as subsequent production makes good for the work stoppage. This, coupled
with the diminishing impact of losses in the column business that Nomura expects starting
2Q 2020, implies that Nexteer's US revenue growth will again turn positive this year. (KL)

Remark: Real time quote last updated: 28/03/2024 18:00
  Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service
A Member of HKET Holdings
Customer Service Hotline:(852) 2880 7004     Customer Service Email:cs@etnet.com.hk
Copyright 2024 ET Net Limited. http://www.etnet.com.hk ET Net Limited, HKEx Information Services Limited, its Holding Companies and/or any Subsidiaries of such holding companies, and Third Party Information Providers endeavour to ensure the availability, completeness, timeliness, accuracy and reliability of the information provided but do not guarantee its availability, completeness, timeliness, accuracy or reliability and accept no liability (whether in tort or contract or otherwise) any loss or damage arising directly or indirectly from any inaccuracies, interruption, incompleteness, delay, omissions, or any decision made or action taken by you or any third party in reliance upon the information provided. The quotes, charts, commentaries and buy/sell ratings on this website should be used as references only with your own discretion. ET Net Limited is not soliciting any subscriber or site visitor to execute any trade. Any trades executed following the commentaries and buy/sell ratings on this website are taken at your own risk for your own account.