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RTNominal down5.320 -0.190 (-3.448%)
Research Report

12/07/2021 17:12

{I-bank focus}CS lowers Zoomlion (01157) to HK$9.18

[ET Net News Agency, 12 July 2021] Credit Suisse lowered its target price for Zoomlion
(01157) to HK$9.18 from HK$16.19 and maintained its "outperform" rating.
The research house said the replacement cycle for concrete machinery and tower cranes is
expected to last longer. Tower cranes should keep benefitting from structural change in
construction sector, as more prefabricated construction is adopted. It expects a low
single-digit growth rate for Zoomlion's top line for 2022-23E, supported by growth in
crane products. (RC)

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