[ET Net News Agency, 25 September 2017] Nomura lifted its target price for Haitian
International (01882) to HK$23.66 from HK$19.72, and maintained its "neutral" rating.
The research house raised its EPS forecasts by 12%/21%/27% for FY2017-19 mainly by
raising our sales forecast for both small PIMMs (Plastic Injection Moulding Machines) and
medium-to-large PIMMs.
Nomura said the stock fairly valued at 14x FY2018 P/E backed by 12% projected EPS growth
in FY2019. The stock's PEG (FY2017 P/E over FY2018-19 EPS CAGR) at 1.3x also seems in line
with peers'average of 1.4x. (KL)