Stock Name: HL Asia
Company Name: HONG LEONG ASIA LTD.
Research House: Credit Suisse
“Near term, the sales outlook for Xinfei should remain challenging, as it pushes into Tier 1 and Tier 2 cities amid rising competition,” said Credit Suisse in a report.
Company Name: HONG LEONG ASIA LTD.
Research House: Credit Suisse
Credit Suisse cut its target price on Singapore’s consumer goods manufacturer Hong Leong Asia (HLAA.SI) to $3.45 from $4.35, but kept its outperform rating.
Credit Suisse cut its earnings-per-share forecasts by 16-22% for 2011-2012 due to expectations of worsening margins. The brokerage also said the outlook for the company’s unit that makes refrigerators, Xinfei, will remain challenging.
Credit Suisse cut its earnings-per-share forecasts by 16-22% for 2011-2012 due to expectations of worsening margins. The brokerage also said the outlook for the company’s unit that makes refrigerators, Xinfei, will remain challenging.
“Near term, the sales outlook for Xinfei should remain challenging, as it pushes into Tier 1 and Tier 2 cities amid rising competition,” said Credit Suisse in a report.
At 9:39 a.m., shares of Hong Leong Asia were 1.2% higher at $2.58. They have fallen 17.6% since the start of the year.
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