[ET Net News Agency, 5 October 2018] Credit Suisse lowered its target price for Tongda
Group Holdings (00698) to HK$1.4 from HK$1.8 given weak sentiment on supply chain, but
upgraded its rating to "outperform" from "neutral" as the stock has corrected 31% over the
past three months.
The research house likes Tongda's strategy of diversifying from metal casing and
focusing on (1) Building IMT casing; (2) Expanding Apple's new businesses; and (3)
Sustaining traditional businesses.
It also noted that current share price is attractive, given current low valuation (5x
P/E on 2019 EPS).
Credit Suisse revised its 2018-20 EPS forecasts by -8% to 2% for GM, product mix and MI
due to purchase of subsidy. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00698 TONGDA GROUP
Nominal 
0.070 +0.001 (+1.449%) Others
05/10/2018 17:29
[I-bank focus]CS upgrades Tongda (00698) to "outperform"
| Remark: | Real time quote last updated: 23/09/2024 17:59 |
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