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28/08/2019 15:45

{I-bank focus}Daiwa raises AviChina (02357) to HK$5.7

[ET Net News Agency, 28 August 2019] Daiwa Research raised its target price for
AviChina Industry & Technology (02357) to HK$5.7 from HK$5.4 and maintained its "buy"
The research house held a post-results NDR for AviChina on 26 August, and was upbeat
about AviChina's revenue growth and expected it to continue in 2H.
Daiwa attributed strong deliveries to civil-use order expansion and kick-off in
government procurement that will provide steady future orders. The existing helicopter
models recorded robust deliveries in 1H. Driven by the expected delivery of 2 new ACE312E
helicopters to Harbin Public Bureau and more new product launches, Daiwa expects its
entire aircraft business to grow in 2H.
Daiwa raised its 2019-21 net profit forecasts by 13-26% to factor in the higher
deliveries in the entire aircraft segment. (KL)

Remark: Real time quote last updated: 06/12/2019 07:35
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