GLONGHUI, May 8 | China Merchants International released a report saying that Zoomlion Heavy Industries continued to expand overseas markets. The share of overseas revenue in the first quarter rose to 48% (less than 10% three years ago), and the share of machinery sales related to real estate investment in China fell to 15% (more than 40% three years ago). It is believed that Zoomlion Heavy Industries will embark on a new structural growth path. China Merchants International raised Zoomlion Heavy Industry's 2024-2026 profit forecast by 12% to 14% due to increased assumptions about overseas sales and gross margin. The bank raised its target price for H shares from HK$5.5 to HK$7.5 and raised the rating from “hold” to “buy”.
大行评级｜招商国际：上调中联重科目标价至7.5港元 评级上调至“买入”
Big Bank Rating | China Merchants International: Raising the target price of Zhonglian Heavy Industries to HK$7.5 and upgrading the rating to “buy”
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