[ET Net News Agency, 30 August 2017] Nomura lifted its target price for Shanghai
Industrial Holdings (SIHL)(00363) to HK$29.2 from HK$27.1, and maintained its "buy"
rating.
The research house said SIHL's improved earnings outlook since FY2016 has persisted into
1H, with infrastructure/tobacco generating solid earnings growth and cash flows, while the
real estate division also benefited from a stronger property market with robust contracted
sales.
What is important from an earnings quality perspective is that infrastructure and
tobacco have further increased their combined contribution to 75% of SIHL's total earnings
in 1H, Nomura noted.
The research house revised up its FY2017/18 EPS estimates by 10%/7% to reflect the
better 1H results. (KL)
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00363 SHANGHAI IND H
Nominal 
10.960 +0.140 (+1.294%) Others
30/08/2017 12:14
[I-bank focus]Nomura lifts Shanghai Ind (00363) to HK$29.2
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