[ET Net News Agency, 6 May 2021] Jefferies Research initiated coverage on CRRC
Corporation (01766) with a "hold" rating and target price of HK$3.8.
The research house said CRRC is the world's largest supplier of rail transit equipment
with the most complete product lines and leading technologies. Formed through the merger
of CNR and CSR in June 2015, the state-owned company expand its global footprint with
advantages in costs and technologies.
Jefferies expects CRRC to benefit from the ongoing urbanization and high-speed railway
construction in upcoming years. It modeled for earnings expansion of 4.2%/11.6% in
FY2021/22 for CRRC. (KL)