<ET Net News Agency, 26 April 2011> Goldman Sachs lifted its target price for Haier
Electronics (01169) to HK$10.78 from HK$8.01, and maintained its "neutral" call.
The house raised Haier's total revenues in 2011/12 by 18.6%/7.8%, to Rmb51.9/62.4bn, as
the company plans to further expand its distribution business in rural markets.
In addition, sales of distribution & logistics business in 2010 were 32% higher than
Goldman's expectation, and sales under "Go Rural" program in March showed strong growth.
But Goldman lowered overall gross margins by 4 ppts and 2.7 ppts in 2011/12.
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