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SAC Capital starts China Shenshan Orchard at 'buy', calls company 'undervalued'

Felicia Tan
Felicia Tan5/9/2022 11:37 AM GMT+08  • 2 min read
SAC Capital starts China Shenshan Orchard at 'buy', calls company 'undervalued'
China Shenshan Orchard is the largest kiwifruit producer in China. Photo: Shutterstock
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SAC Capital has initiated “buy” on China Shenshan Orchard Holdings with a target price of 70 cents.

Calling the company “undervalued”, analyst Lam Wang Kwan says his earnings estimates only “factored in organic growth from its owned plantation over the next two years”.

Lam has also estimated an FY2022 EV/EBITDA of 2.6x to the company, which translates to an FY2022 P/E of 5.1x. The estimates factor in the company’s nascent brands, shorter operating history and trading track record.

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