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02357 AVICHINA
RTNominal down3.110 -0.050 (-1.582%)
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11/04/2018 15:50

[I-bank focus]Morgan lifts AviChina (02357) to HK$6.85

[ET Net News Agency, 11 April 2018] Morgan Stanley lifted its target price for AviChina
Industry & Technology (02357) to HK$6.85 from HK$6.69, and reiterated its "overweight"
rating.
The research house rasied its 2018-19 net profit estimates by 2.5% and 1.8% to Rmb1.47bn
and Rmb1.8bn, respectively, after factoring in 2017 earning results and introducing its
2020 projection of Rmb2.1bn.
Although 2017 revenue was weaker than expected, gross margin improved impressively,
mainly led by better product and services mix. Morgan expects the high margin will sustain
in 2018-20 with more high-value added products delivered and continued execution of
"leaner and healthier" initiatives. (KL)

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