[ET Net News Agency, 16 November 2017] Goldman Sachs cut its target price for Yue Yuen
Industrial (00551) to HK$36 from HK$37.5, and maintained its "buy" rating.
The research house said Yue Yuen's share price correction more than discounts Pou
Sheng's (03813) earnings miss as well as expectations of consensus downgrades.
Goldman cut Pou Sheng's 2017-19 NI by 31%-32%, translating into only 3% cuts to Yue
Yeun's EPS, with some of this offset by Goldman's higher estimates for OEM (original
equipment manufacturer).
The research house cut its 2017-19 opearting profit by 2%-7% to factor in weaker Pou
Sheng (retail earnings) partially offset by better OEM, with modest revisions to NI. It
estimated OEM's OP will grow 7% p.a. in 2018/19, lower than 37%/10% in 2016/17, when it
was versus an easy comp having recovered from production disruption in 2013-15. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00551 YUE YUEN IND
Nominal 
12.380 +0.380 (+3.167%) Others
16/11/2017 16:55
[I-bank focus]Goldman cuts Yue Yuen Industrial to HK$36
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