[ET Net News Agency, 20 October 2017] HSBC Global Research lowered its target price for
Pacific Textiles (01382) to HK$8.7 from HK$9.4, based on an unchanged 13x 2018 PE
multiple, and maintained its "hold" rating.
The research house adjusted down Pacific Textiles earnings by 6-8% for FY2018-20 to
factor in the impact from the Vietnam plant suspension. HSBC expects solid dividend
distribution to support a premium to the historical average. (KL)