[ET Net News Agency, 10 October 2018] Credit Suisse lowered its target price for Want
Want China Holdings (00151) to HK$6.2 from HK$8.96, and downgraded its rating to "neutral"
from "outperform".
The research house believes Want Want's price lift would support a margin and earnings
recovery, but the magnitude is likely below market expectation. As such, Credit Suisse
revised down its earnings forecasts by 9-12%, assuming lower sales and margin.
For 1H FY2019, Credit Suisse forecast its sales to grow 4.9% YoY, the low end of
management's full year guidance. This is mainly driven by (1) 2-3% ASP hike, (2) 2-3% new
product contribution and (3) flattish volume for old products.
After earnings cut, it now looks for sales/earnings up 5.0%/8.2% YoY in FY2019. (KL)
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00151 WANT WANT CHINA
Nominal 
4.520 +0.010 (+0.222%) Others
10/10/2018 15:01
[I-bank focus]CS lowers Want Want China (00151) to HK$6.2
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