[ET Net News Agency, 22 September 2020] Daiwa Research raised its target price for
Minth Group (00425) to HK$37 from HK$29 and maintained its "buy" rating.
The research house believes lightweight vehicles will become a long-term trend, given
stricter emission standards worldwide and higher expectations on NEV (new energy vehicle)
driving range.
Daiwa expects Minth to benefit from a strong order backlog for aluminium parts and
battery housing in 2021-22. It noted that Minth will start production of aluminium trims
for Tesla's Berlin factory in 1H 2021.
Given the gross profit margin for aluminium parts are on average 10pp higher than the
company's average, Daiwa believes the scaling up of the aluminium parts business will
result in Minth's total gross profit margin expanding from 31.2% in 2019 to 32.1% in 2022.
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00425 MINTH GROUP
Nominal 
13.320 +0.440 (+3.416%) Others
22/09/2020 09:58
{I-bank focus}Daiwa raises Minth Group (00425) to HK$37
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
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