[ET Net News Agency, 3 June 2020] Nomura raised its target price for Shenzhou
International Group (02313) to HK$114.1 from HK$105 and maintained its "buy" rating.
The research house cited Shenzhou's management indicating that orders for the first five
months were largely unaffected, with production capacity still at over 90%. The company
has started to see order cuts in June and expects July to see the biggest impact.
With its vertically integrated model getting increasingly appreciated by clients, Nomura
regards Shenzhou as a high-quality OEM player with superior ability to tap the rush orders
from customers once the global retail environment normalizes.
Nomura cut its FY2020-22 earnings forecasts by 20-25% to reflect the impact of order
cuts. (KL)
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02313 SHENZHOU INTL
Nominal 
77.350 +1.450 (+1.910%) Others
03/06/2020 14:39
{I-bank focus}Nomura ups Shenzhou Int'l (02313) to HK$114.1
| Remark: | Real time quote last updated: 26/04/2024 15:54 |
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