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<Research>JPM Keeps Overweight on SHENZHOU INTL but Trims TP to HKD81, Envisions Recovery in 2026
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SHENZHOU INTL (02313.HK) experienced an 8% YoY increase in revenue and a 7% decline in earnings last year, 3% and 11% below market expectations, respectively, according to a report from JPMorgan. The underperformance was attributable to a mere 2% growth in 2H25 sales as a result of the soft domestic market demand (2H25 sales dropping 14%). JPMorgan has lowered its target price for SHENZHOU INTL from HKD94 to HKD81 but kept the Overweight rating unchanged. It expects the company's sales and profits to grow by 6% and 4%, respectively, in 2026, with a net profit margin falling by 0.5 ppts YoY to 18.3%. AAStocks Financial News |
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