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00322 TINGYI
RTNominal up8.370 +0.080 (+0.965%)
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05/07/2018 17:23

[I-bank focus]Tingyi's instant noodle momentum intact - Macq

[ET Net News Agency, 5 July 2018] Macquarie Research cited its recent channel checks
with distributors suggesting that Tingyi (Cayman Islands)(00322) has raised mid-range
noodle prices by 2-3% from 1 July.
This translates into 1-2% earnings upside for 2H, based on the research house's
sensitivity analysis. Macquarie expects 2Q revenue to grow 6.2% YoY and net profit to grow
94.1% YoY. The company will report 2Q results in August.
Macquarie maintained its "outperform" rating on Tingyi, with a target price of HK$17.8.
(KL)

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