[ET Net News Agency, 10 November 2017] Macquarie Research raised its target price for Haier Electronics (01169) to HK$27.6 from HK$24.2 on rollover, and maintained its "outperform" rating.
The research house believes Haier should continue benefit from the consumption upgrading trend with both an increase in sales volume for the high-end brand Casarte and a rise in ASP for its Haier and Leader brands. This will not only reflect in the manufacturing business but also on the channel distribution business.
On top of this, Macquarie still sees the logistics business growing through the extension of product categories and efficiency improvement. It lifted its earnings slightly (1%) for FY2017 & FY2018 respectively. (KL)
(c) 2017 ET Net Limited. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers