On June 13, Globis <58J> reported that Bank of America Securities raised its earnings forecast by 4% and 3% for Shenzhou International for the next two years to reflect the company's better-than-expected orders and profit margin recovery, and increased its target price by 4% to HKD 93.5. The bank expects the company's revenue and net profit to increase by 14.5% and 21% respectively in 2024, consistent with the market, and reiterated its "buy" rating. Bank of America Securities proposed three major factors to be noted, including the bank's belief that there is upward potential in the current market forecast and is waiting for the results to be announced in August; some investors believe that the upper limit of net profit after tax for 2024 is 6 billion yuan, but the bank is more cautious and believes that items such as tax rates and government subsidies may offset some basic business advantages; investors are concerned about its valuation, but the bank believes that the current premium is reasonable. The bank pointed out that if the company's performance in the first half of the year is strong, the performance in 2025 will be the main focus.
大行评级｜美银：上调申洲国际目标价至93.5港元 上调今明两年盈测
Major Bank Rating: Bank of America Merrill Lynch has raised the target price of Shenzhou International Group Holdings Limited unsponsored ADR to HK$93.5 and increased the profit forecast for the next two years.
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