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RTNominal up4.420 +0.090 (+2.079%)

18/11/2019 12:02

{I-bank focus}Daiwa lowers China CRSC (03969) to HK$5

[ET Net News Agency, 18 November 2019] Daiwa Research lowered its target price for
China Railway Signal & Communication (CRSC)(03969) to HK$5 from HK$6.2 but upgraded its
rating to "outperform" from "hold".
The research house said the stock was oversold after the company's A-share listing in
3Q. It said the stock is trading below their past-3-year average of 13x PER for 2020 yet
it offers a 14% adjusted earnings CAGR over 2018-21.
Daiwa cut its 2019-21 core EPS forecasts by 7-11% to reflect the 3Q results and lower
margins over 2020-21 given competition in the URT (urban rail transit) segment. (KL)

Remark: Real time quote last updated: 13/12/2019 17:59
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