Gelonghui, December 12, 丨 Credit Suisse raised the target price of Haitian International (1882.HK) by 11.5%, from HK$21.3 to HK$23.76, maintaining the “better than the market” rating, believing that the company's outlook for next year is expected to show a cyclical recovery. According to the Credit Suisse Development Report, although the injection molding machine (PIMM) market is expected to only record steady growth in 2023, after the downward cycle from the second half of 2021 to the first half of 2022, the market seems to have bottomed out, and the industry has also recorded positive growth since September. The bank is also optimistic. Potential performance such as the recovery of the PIMM market and moderate steel prices will help profit will be the catalyst for the company next year. Driven by the improved order trend and the positive stimulus effect of the PIMM market, the company's stock price has risen by about 34% since October. Unlike the automation parts market, the PIMM market will remain low in the first half of next year. The bank reiterated Haitian International's investment rating due to expected cyclical recovery and undervaluation of valuations. However, the company's earnings per share forecasts for 2022, 23, and 24 were lowered by 10%, 8%, and 7%, respectively. The share is currently reported at HK$20.4, with a total market value of HK$32.6 billion.