[ET Net News Agency, 5 July 2018] Daiwa Research lifted its target price for China
Railway Signal & Communication (03969) to HK$7.6 from HK$7.1, and retained its "buy"
rating.
The research house sees a recovery in its railway segment in 2018 on rising new
high-speed rail lines, which will boost demand for signal systems.
Daiwa said railway and urban transit new order grew robustly in 1Q. CRSC reported new
orders of CNY6,440m in 1Q, up by 18% YoY, mainly supported by a recovery in its railway
segment (+26% YoY) and strong momentum in urban transit projects (+30% YoY).
However, new order growth from construction contracts normalised to 3% YoY versus 29%
YoY in 2017. It expect CRSC's new order growth for 2018 to be 19% YoY, down from its
previous estimate of 22% YoY, due to the deceleration of new construction contracting
orders.
Daiwa trimmed its 2018-19 EPS by 1-3% to factor in the slightly slower 1Q new order
growth from the construction contracts. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
03969 CHINA CRSC
Nominal 
3.210 -0.030 (-0.926%) Others
05/07/2018 11:35
[I-bank focus]Daiwa lifts China CSRC (03969) to HK$7.6
| Remark: | Real time quote last updated: 23/04/2024 17:04 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |