HSBC maintains its buy rating of 00716-HK Container, raising its target price from $3.90 to $4.10.
HSBC said its share price had fallen too much in the early period, giving it a buying opportunity. In addition, the price of 20-foot standard containers has risen from US $2800 to US $2850 this year, so the net profit for 2011-12 has increased by 13% and 19%, which is 7% and 1% higher than that of the market generally.
Sheng Lion Container rose 1.23% yesterday to close at 3.28 yuan.