[ET Net News Agency, 13 November 2018] Daiwa Research raised its target price for CRRC
Corp (CRRC)(01766) to HK$7.8 from HK$7.2 and maintained its "outperform" rating.
The research house likes CRRC's restructuring plan, including cutting spare production
capacity, laying off employees and streamlining its non-core businesses, which will
improve its profitability in the long term.
Besides, Daiwa expects the increasing demand for locomotives, freight wagons, and metro
cars to boost CRRC's rolling stock revenue growth over 2019-20.
Daiwa trimmed its 2018-19 EPS forecasts by 2-3% to factor in the 3Q results and its new
2019 forecasts for locomotives and freight wagons. (KL)
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01766 CRRC
Nominal 
4.510 +0.010 (+0.222%) Others
13/11/2018 11:25
[I-bank focus]Daiwa raises CRRC Corp (01766) to HK$7.8
| Remark: | Real time quote last updated: 20/09/2024 16:24 |
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