[ET Net News Agency, 13 November 2020] Morgan Stanley raised its target price for
Uni-President China (UPC) (00220) to HK$8.1 from HK$7.8 due to the earnings upward
revisions and maintained its "equal-weight" rating.
The research house increased its earnings estimates by 4%, 3%, and 3% for 2020-22, to
reflect higher efficiency in operating expenses and savings in selling expenses.
Morgan noted that weak sales in old flagship products may remain an overhang. UPC is
launching more premium SKUs to drive sales growth, but this also requires continued
channel and branding investments. Morgan thinks a focus on top-line growth would require
enhanced channel investments and likely weigh on margin. (KL)
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00220 U-PRESID CHINA
Nominal 
5.740 -0.070 (-1.205%) Others
13/11/2020 16:32
{I-bank focus}Morgan lifts U-Presid China (00220) to HK$8.1
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