CGS-CIMB has maintained its “add” call on China Sunsine with a raised target price of 42 cents, up from its previous price of 38 cents due to an expected earnings recovery in 2H20. 

See also: Maintain ‘overweight’ on semicon sector on strong Aug sales: CGS-CIMB

Analyst Ong Khang Chuen said they expect recovery in 2H20, with sales volume forecast to improve to 87.9 kilotonnes (kt), which is up 3% y-o-y in 2HFY20, driven by downstream demand recovery. 

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