[ET Net News Agency, 26 June 2018] Morgan Stanley chopped its target price for Crystal
International (02232) to HK$6.3 from HK$9, and downgraded its rating to "equal-weight"
from "overweight".
The research house thinks it will take time for the market to monitor the company's
execution in production and order intake in the next 12 months, which could be a swing
factor for margins, and thus earnings.
Morgan continues to have conviction in Crystal's long-term strategy of moving upstream
for fabric production, expanding exposure in the sportswear category, and leveraging a
co-creation model to expand product offerings within its existing large customers.
If Crystal can bear fruit from the aforesaid strategies, Morgan thinks it could unlock
value and see a re-rating. (KL)
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02232 CRYSTAL INTL
Nominal 
3.600 0.000 (0.000%) Others
26/06/2018 17:56
[I-bank focus]Morgan lowers Crystal Int'l (02232) to HK$6.3
| Remark: | Real time quote last updated: 25/09/2024 18:00 |
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