[ET Net News Agency, 16 November 2017] Citi Research cut its target price for Man Wah
Holdings (01999) to HK$9.3 from HK$9.5, and maintained its "buy" rating.
The research house said it attended Man Wah's 1H FY2018 analyst briefing, and discussed
its near-term performance / medium-term outlook with management.
It reported 2% yoy growth in North America revenue for 1H, while management believes US
sales growth reached 10% yoy for September-October 2017, boding well for 2H FY2018, Citi
noted. Management targets to gradually raise product ASP by 2%-3%, starting with the
smaller clients.
Citi cut Man Wah's FY2018-20 earnings forecasts by 7%-9%, on lower margin assumptions
for US and Europe. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
01999 MAN WAH HLDGS
Nominal 
4.670 +0.280 (+6.378%) Others
16/11/2017 15:43
[I-bank focus]Citi cuts Man Wah Holdings (01999) to HK$9.3
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