[ET Net News Agency, 15 March 2018] Daiwa Research lowered its target price for Man Wah
Holdings (01999) to HK$7.8 from HK$8.6, and maintained its "hold" rating.
The research house said the consensus earnings forecasts have since been revised down
following a conference call about business update, but Daiwa believes expectations may
still be too high, particularly for FY2019-20.
It retained the view that the risk-reward remains unappealing at the current share price
level.
Management mentioned that competition in the US has been very strong and it has found it
hard to pass through the rise in raw material prices to its customers. Daiwa cut its
FY2018-20 EPS by 4-7% to reflect the operating margin pressure, as well as a likely
one-off increase in advertising expenses in FY2018 (renewed Andy Lau sponsorship
contract). (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 
5.430 +0.060 (+1.117%) Others
15/03/2018 11:16
[I-bank focus]Daiwa cuts Man Wah Holdings (01999) to HK$7.8
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