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00551 YUE YUEN IND
RTNominal down13.620 -0.080 (-0.584%)
Others

14/11/2018 17:37

[I-bank focus]Goldman lifts Yue Yuen Industrial to HK$22.4

[ET Net News Agency, 14 November 2018] Goldman Sachs lifted its target price for Yue
Yuen Industrial (Holdings) (00551) to HK$22.4 from HK$21.1 and maintained its "neutral"
rating.
The research house revised its 2018-20 net income forecasts by -2% to +3% to factor
better sales trends from OEM and retail businesses offset by FX losses and higher tax
rate. While the near-term OEM margin pressure appears to alleviate a bit, Goldman believes
the visibility remains low.
Yue Yuen commented that full-year 2018 OEM volume could be flat yoy versus the previous
guidance of flat to low-single-digit decline as it works more closely with clients to
manage the utilization rate. ASP could decline low-single-digit due to weaker product mix.
(KL)

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