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00425 MINTH GROUP
RTNominal down12.360 -0.980 (-7.346%)
Others

11/05/2020 13:56

{I-bank focus}Citi lower Minth Group (00425) to HK$24.3

[ET Net News Agency, 11 May 2020] Citi Research cut its target price for Minth Group
(00425) to HK$24.3 from HK$30.3 and maintained its "buy" rating.
The research house has conducted channel checks on Minth's production recovery. The
factory in Germany has already started production under a limited-time working scheme,
with employees working for 20 hours/week. The production restart plan for the US plant has
also been confirmed and is expected to restart on 18 May. Business and production in China
have fully recovered by now.
Factoring in the negatives from the global auto production halt due to the outbreak,
Citi lowered its FY2020/21 earnings estimates by 28%/24%. (KL)

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