[ET Net News Agency, 15 July 2020] Nomura raised its target price for Johnson Electric
Holdings (00179) to HK$19 from HK$15.8 and upgraded its rating to "buy" from "neutral".
The research house noted that the encouraging performance of IPG (Industrial Product
Group) was mainly driven by various factors such as strong growth of the medical devices
segment; higher-than-usual demand for home appliances and personal care products as
consumers spent more time at home due to COVID-19 lockdowns, and; market share gains as a
result of supply disruptions at some competitors.
Nomura also assumed potential sequential recovery of the APG (Auto Product Group)
business from 2Q FY2021, particularly in the US market. It cut FY2021 revenue forecast by
11% which leads to a 14% cut in net profit to reflect 1Q financial data. (KL)
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00179 JOHNSON ELEC H
Nominal 
9.900 -0.300 (-2.941%) Others
15/07/2020 15:52
{I-bank focus}Nomura lifts Johnson Electric (00179) to HK$19
| Remark: | Real time quote last updated: 16/04/2024 17:59 |
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