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RTNominal unchange3.350 0.000 (0.000%)

24/09/2019 17:40

{I-bank focus}UBS cuts Trad Chi Medicine (00570) to HK$5.4

[ET Net News Agency, 24 September 2019] UBS Global Research lowered its target price
for China Traditional Chinese Medicine (CTCM)(00570) to HK$5.4 from HK$7.3 and maintained
its "buy" rating.
The research house thinks the past year's market confidence has been hurt by slow
earnings growth with increased selling expenses while neglecting the solid near-term sales
UBS thinks confidence can improve if bottom-line growth catches up with top-line growth.
It expects little material downside given valuation is near a historical trough (9x 2020
PE). Long term, if regulatory policies recognise granule as a standardised industry with
national insurance support, UBS said it would boost the research house's confidence in its
penetration and sustainability even if competition intensifies. (KL)

Remark: Real time quote last updated: 06/12/2019 17:59
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