[ET Net News Agency, 25 May 2018] Morgan Stanley chopped its target price for Zhou Hei
Ya International (ZHY)(01458) to HK$7.1 from HK$9.1, and downgraded its rating to
"equal-weight" from "overweight" given the lack of earnings momentum and stock catalysts
on the horizon.
The research house said the stock's fall after 2017 earnings was largely due to weak
guidance for 2018. It thinks ZHY's focus on membership, O2O and crayfish will eventually
create substantial value. But the lack of a clear time-frame for investors to see results
of the long-term strategies will likely cap the stock upside.
Morgan also cut its net income estimates by 13-19% for 2018-19. Now it looks for 15%/17%
sales and -1%/10% earnings growth in 2018/19. (KL)
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01458 ZHOU HEI YA
Nominal 
1.690 -0.010 (-0.588%) Others
25/05/2018 17:55
[I-bank focus]Morgan lowers Zhou Hei Ya (01458) to HK$7.1
| Remark: | Real time quote last updated: 19/04/2024 18:00 |
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