[ET Net News Agency, 9 November 2017] Nomura lifted its target price for Johnson
Electric Holdings (00179) to HK$34 from HK$30.1 to reflect the stronger growth outlook,
and maintained its "neutral" rating as risk-reward looks balanced.
The research house said Johnson's 1H net profit of US$140mn (+15.8% y-y) was slightly
above Nomura's expectation. To reflect the above, it raised its FY2018-20 net profit
forecasts by an average 5%.
Subsequent to the completion of three major acquisitions in the past 12 months, Johnson
has offered investors an impressive 82% return, the research house noted.
Nomura said it would turn positive on Johnson if there is another major acquisition
which would enhance shareholder value further. Instead, it would turn negative if the
outlook is affected by significant movements in EUR/USD. (KL)
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00179 JOHNSON ELEC H
Nominal 
10.520 +0.020 (+0.190%) Others
09/11/2017 11:34
[I-bank focus]Nomura lifts Johnson Electric (00179) to HK$34
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