[ET Net News Agency, 4 December 2019] Citi Research lifted its target price for
Sinotruk (Hong Kong) (03808) to HK$12.8 from HK$8 and maintained its "sell" rating.
The research house said China HDT (heavy-duty trucks) sales volume inched up 5% YoY/3%
MoM to 94k in November (11-month 2019: +1% YoY to 1.07mn units), slightly below Citi's
earlier expectation of 95-98k units.
Sinotruk logged a 3% decline in the month, as the company continues to underperform the
sector, while its 11-month sales volume crept down 5%. Citi adjusted its sector/Sinotruk
2019 HDT sales growth forecast to -0.5% YoY/-2% YoY (from -12%/-10% YoY) and 2020 forecast
to -7%/-7% YoY (from -10%/-10% YoY). (KL)
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03808 SINOTRUK
Nominal 
22.000 -0.500 (-2.222%) Others
04/12/2019 14:31
{I-bank focus}Citi ups Sinotruk (03808) to HK$12.8; "sell"
| Remark: | Real time quote last updated: 18/04/2024 17:59 |
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