[ET Net News Agency, 16 September 2019] Daiwa Research lifted its target price for Man
Wah Holdings (01999) to HK$5 from HK$3.7 and upgraded its rating to "outperform" from
"hold".
The research house believes Man Wah is finally on the cusp of turning a corner. While it
does not expect an exciting set of interim results on November, Daiwa foresees improving
fundamentals over the next 3 years and believes it will enter its "third growth phase" in
2020 - a sustained recovery in the export market share, particularly from the US.
As one of the quickest to react to the US-China trade war, Man Wah has turned the tariff
headwinds into a growth opportunity, which should lay the foundation for a gradual
resumption in its dividend payout back to about 60% by FY2022, Daiwa noted. (KL)
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01999 MAN WAH HLDGS
Nominal 
5.420 +0.090 (+1.689%) Research Report
16/09/2019 09:59
{I-bank focus}Daiwa lifts Man Wah Holdings (01999) to HK$5
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