[ET Net News Agency, 4 December 2017] UBS Global Research lifted its target price for
Tingyi Cayman Islands (00322) to HK$17.43 from HK$13.88, and maintained its "buy" rating.
The research house said the target hike reflects robust beverage growth outlook. UBS is
turning more positive towards Tingyi's earnings growth outlook and believes its
profitability and returns will recover in the next 2-3 years through product upgrades
and asset rationalization.
It said Tingyi's 3Q results beat confirmed its robust recovery from 2015/16 missteps.
UBS raised its 2018/19 earnings by 12%/11%. (KL)