[ET Net News Agency, 6 March 2020] UOB Kay Hian raised its target price for Lee & Man
Paper (L&M)(02314) to HK$3.7 from HK$3.5 and maintained its "sell" rating.
The research house said LMP posted a core net profit of HK$1.53bn in 2H and HK$3.16bn in
2019, above UOBKH's estimate but below consensus forecast. The earnings beat lies in sales
volume.
UOBKH raised its 2020-21 net profit forecasts by 6% and 4% respectively to factor in
additional demand from "plastic-to-paper" substitution. But margins will continue to come
under pressure, given weak end-demand and tightening old corrugated cardboard (OCC)
supplies. (KL)
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02314 LEE & MAN PAPER
Nominal 
2.320 -0.020 (-0.855%) Research Report
06/03/2020 13:58
{I-bank focus}UOBKH raises Lee & Man Paper (02314) to HK$3.7
| Remark: | Real time quote last updated: 25/04/2024 14:23 |
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