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00425 MINTH GROUP
RTNominal unchange13.080 0.000 (0.000%)
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01/04/2020 14:44

{I-bank focus}Jefferies cuts Minth Group (00425) to HK$16.5

[ET Net News Agency, 1 April 2020] Jefferies Research cut its target price for Minth
Group (00425) to HK$16.5 from HK$18.6 and maintained its "hold" rating.
The research house said Minth's FY2019 earnings missed its forecast by 5%. GPM (gross
profit margin) deteriorated to 31% due to lower utilization, the tariff imposed by the US,
and lower production yield in the EU.
Jefferies believes Minth will be hit the most amid global COVID-19 outbreak given its
overseas exposure. The management flagged that over 120 auto plants abroad have halted
operation until 14 April, leading to the suspension of Minth in the EU and Mexico. (KL)

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