Gelonghui, November 30 | CCB International published a report saying that CRRC's overseas business and clean energy business have good potential for growth. Based on better revenue growth and profit margins, its compound annual profit growth rate is expected to rise from 0% in the 2019 to 2023 fiscal year to 8% in the 2023-2025 fiscal year. The target price was raised from HK$4.2 to HK$4.6, and the rating was upgraded from “neutral” to “outperform the market”. Furthermore, according to the report, China Railway Group announced that it will purchase 55 sets of 350 km/h EMUs (MU), increasing the annual order from 87 units last year to 158 this year, ending the situation where engine unit spending has declined year after year due to the epidemic, and may stimulate a moderate growth cycle in the future.
大行评级|建银国际:上调中国中车评级至“跑赢大市” 目标价上调至4.6港元
Bank Ratings|CCB International: Raising CRRC's rating to “outperform the market” and raising the target price to HK$4.6
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The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
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