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RTNominal up9.510 +0.140 (+1.494%)

19/07/2019 17:35

[I-bank focus]Citi lifts China Lesso (02128) to HK$9.3

[ET Net News Agency, 19 July 2019] Citi Research lifted its target price for China
Lesso Group (02128) to HK$9.3 from HK$7.5 and maintained its "buy" rating.
Lesso will post interim results in mid-August. The research house expects its earnings
growth of 15% to Rmb1.199bn along with revenue growth of 10% to RMb11.493bn, which is
largely driven by the capacity expansion of core plastic pipes coupled with margin
expansion on lower material cost, as well as share gain.
The management joined Citi's latest conference and shared a more optimistic outlook for
Lesso Home (the B2B platform for distribution of building materials overseas). Citi thus
revised up its earnings forecasts by 4% during 2020-21. (KL)

Remark: Real time quote last updated: 13/12/2019 17:59
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