[ET Net News Agency, 12 May 2020] Citi Research raised its target price for Shenzhou
International (02313) to HK$108 from HK$100 and maintained its "buy" rating.
The research house said Yue Yuen's (00551) monthly data points show the worst month for
China retail sales was February (down 83%) due to lockdown at end-January. Assuming a
comparable pace of store reopenings in the US/EU similar to China, Citi believes most
US/EU stores will re-open in June/July.
In other words, Citi expects remarkable improvement for order visibility from 3Q on a
QoQ basis. So order visibility in 2H would be much improved versus little visibility as
management stated at end-March over the 2019 results report. (KL)
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02313 SHENZHOU INTL
Nominal 
73.800 +0.550 (+0.751%) Research Report
12/05/2020 14:39
{I-bank focus}Citi lifts Shenzhou Int'l (02313) to HK$108
| Remark: | Real time quote last updated: 23/04/2024 17:59 |
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