[ET Net News Agency, 16 October 2018] Jefferies Research maintained its target price
for Shenzhou International (02313) unchanged at HK$96, but upgraded its rating to "buy"
from "hold" after the recent share price correction.
The research house believes the company remains a key beneficiary of textile market
consolidation. Data points from sportswear brands (both international and domestic)
suggest stable demand from consumers.
Jefferies thinks news of the EU's potential withdrawal of Cambodia's duty-free status
should have a limited impact on Shenzhou's margins and capacity expansion.
It said the shares currently trade at 19x PE on FY2019 forecasts versus 23.6% earnings
CAGR for FY2018-20. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
02313 SHENZHOU INTL
Nominal 
77.350 +1.450 (+1.910%) Others
16/10/2018 11:01
[I-bank focus]Jefferies ups Shenzhou Int'l (02313) to "buy"
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