Home Capital Broker's Calls

CGS-CIMB ups China Sunsine's TP on 'strong start to 2021'

Felicia Tan
Felicia Tan5/5/2021 12:22 PM GMT+08  • 2 min read
CGS-CIMB ups China Sunsine's TP on 'strong start to 2021'
The analysts have also raised their net profit forecast for FY2021 by 67% to RMB365 million.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

CGS-CIMB Research analysts Ong Khang Chuen and Kenneth Tan have maintained “add” on China Sunsine Chemical Holdings with a higher target price of 66 cents from 61 cents previously, following China Sunsine’s “positive 1Q business update” on April 29.

“Our target price rises to 66 cents, still based on 1.05 times FY2021 price-to-book (P/BV) or 0.5 standard deviation (s.d.) above its 10-year historical mean,” they write.

The company’s net profit of RMB125 million ($25.8 million) for the 1QFY2021 ended March, surged 274% y-o-y, surpassing the analysts’ expectations at 42% of their FY2021 forecast.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.