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Jiutian Chemical could nearly double its share price if 4Q21 results prove strongest in operating history: CGS-CIMB

Jovi Ho
Jovi Ho1/24/2022 02:08 PM GMT+08  • 3 min read
Jiutian Chemical could nearly double its share price if 4Q21 results prove strongest in operating history: CGS-CIMB
“We believe 4QFY2021F was the strongest quarter in Jiutian’s operating history."
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Ahead of its full-year results in February, Jiutian Chemical Group may report a “blowout quarter”, say CGS-CIMB Research analysts Kenneth Tan and Ong Khang Chuen.

“We believe 4QFY2021F was the strongest quarter in Jiutian’s operating history, on the back of stronger profit spread from higher average selling prices (ASPs), and optimal utilisation of production capacity,” write the analysts.

In a Jan 19 note, Tan and Ong are maintaining “add” on Jiutian, with a raised target price of 15 Singapore cents, up from 14 Singapore cents previously. The new target price represents an upside of 82.9%.

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