Quote | Super Quote
Super Quote   |   Detail Quote   |   Interactive Chart   |   Real-Time Chart   |   Transaction   |   Related News   |   Related Securities   |   Company Information   |   Dividend Records   |   Short Sell
01766 CRRC
RTNominal down5.510 -0.010 (-0.181%)
Research Report

24/09/2019 10:14

{I-bank focus}Daiwa lowers CRRC Corp (01766) to HK$6.4

[ET Net News Agency, 24 September 2019] Daiwa Research lowered its target price for
CRRC Corp (01766) to HK$6.4 from HK$7.4 and maintained its "outperform" rating.
The research house said the China Railway's (CR) new 2019 guidance of Fuxing MU tenders
is lower than its estimate of 340 units. Daiwa noted that CR's delayed tenders on MU were
caused by the shareholding system reform. Hence, it lowered its 2019 MU delivery growth
from 10% to 6%.
As a replacement for passenger rail trains, demand for dynamic concentrated MU (CR200J)
is rising. For 2019 year-to-date, tenders of CR200J stood at 113 units versus 28 units in
2018. Daiwa expects the robust procurement of CR200J to partially compensate for the
moderate growth of Fuxing MU.
Daiwa cut its 2019-20 EPS forecasts by 5% to factor in the 1H results and its new
assumptions on railway equipment delivery. (KL)

Remark: Real time quote last updated: 24/01/2020 17:59
  Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service
A Member of HKET Holdings
Customer Service Hotline:(852) 2880 7004     Customer Service Email:cs@etnet.com.hk
Copyright 2020 ET Net Limited. http://www.etnet.com.hk ET Net Limited, HKEx Information Services Limited, its Holding Companies and/or any Subsidiaries of such holding companies, and Third Party Information Providers endeavour to ensure the availability, completeness, timeliness, accuracy and reliability of the information provided but do not guarantee its availability, completeness, timeliness, accuracy or reliability and accept no liability (whether in tort or contract or otherwise) any loss or damage arising directly or indirectly from any inaccuracies, interruption, incompleteness, delay, omissions, or any decision made or action taken by you or any third party in reliance upon the information provided. The quotes, charts, commentaries and buy/sell ratings on this website should be used as references only with your own discretion. ET Net Limited is not soliciting any subscriber or site visitor to execute any trade. Any trades executed following the commentaries and buy/sell ratings on this website are taken at your own risk for your own account.