[ET Net News Agency, 15 November 2018] Daiwa Research raised its target price for
Shenzhou International Group (02313) to HK$110 from HK$105 and maintained its "buy"
rating.
The research house believes a combination of its likely strong 2018 results, high
order-book visibility and solid execution in its overseas expansion will allow the stock
to continue to widen its premium multiple over its peers.
More importantly, Daiwa sees no material impact on Shenzhou from the recent trade
disputes between the US-China and the EU-Cambodia.
Shenzhou continues to guide for 10-15% YoY capacity growth for the next 2-3 years,
likely driven by (1) the expansion of its Vietnam plant with 5,000 workers (operational by
2H 2019), (2) construction of a new plant in Cambodia with 10,000 workers (operational by
end-2020), and (3) efficiency gains from its overseas facilities (Cambodia and Vietnam
currently operate at 85% and 75% of China's efficiency level). (KL)
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02313 SHENZHOU INTL
Nominal 
73.250 -0.100 (-0.136%) Others
15/11/2018 15:01
[I-bank focus]Daiwa raises Shenzhou Int'l (02313) to HK$110
| Remark: | Real time quote last updated: 19/04/2024 17:34 |
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