CLSA raised its target price for Haier Electronics (01169) to HK$21.86 from HK$17.15 on rollover, and maintained its "outperform" call.
It expects Haier's advantages in both the service and manufacturing sector to convert to long-term growth in the rising e-commerce era. The research house values Haier as a growing logistics and service platform with advantages in rural coverage, after-sales service and inventory management.
On the manufacturing side, CLSA thinks Haier's fast inventory turnover is suitable for e-commerce business. Further product upgrades also aid topline growth.
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