CGS-CIMB Research has maintained its ‘add’ rating for China Sunsine Chemical Holdings with a higher target price of 61 cents from 55 cents previously due to an upward trend in average selling prices (ASPs).
This comes following China Sunsine’s “solid set of results” for the 2HFY2020. The company’s earnings of RMB 136 million ($234 million) for the period were in line with analyst Ong Khang Chuen’s expectations and up 11% y-o-y on the back of higher revenue from better ASPs.
SEE:Continue to 'add' China Sunsine as negatives priced in: CGS-CIMB
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