Stock Name: SinoGrandnes
Company Name: SINO GRANDNESS FOOD IND GP LTD
Phillip Securities Research in an Aug 3 research report says: "Sino Grandness 2Q11 results continue to beat our expectations. Revenue for the quarter was RMB283.9 million (+70.1% y-o-y, +59.9% q-o-q), net profit was RMBB54.1 million (+57.7% y-o-y, +72.8% q-o-q).
"We see growth from both the canned products and beverage segments. We think the company's growth is on track. Management is optimistic that second half of the year would be better for both segments. We revise up our revenue and net profit forecasts for FY2011E by 3.5% and 7.9% respectively.
"Although we hold a positive fundamental outlook on the company, we have a more conservative technical outlook on the market. Therefore we are keeping our target price unchanged at 75 cents. Our target price implies a 6.5x PE peg to FY2011E earnings. MAINTAIN BUY."
Company Name: SINO GRANDNESS FOOD IND GP LTD
| Research House: Phillip Securities | Price Call: BUY | Target Price: 0.75 |
Phillip Securities Research in an Aug 3 research report says: "Sino Grandness 2Q11 results continue to beat our expectations. Revenue for the quarter was RMB283.9 million (+70.1% y-o-y, +59.9% q-o-q), net profit was RMBB54.1 million (+57.7% y-o-y, +72.8% q-o-q).
"We see growth from both the canned products and beverage segments. We think the company's growth is on track. Management is optimistic that second half of the year would be better for both segments. We revise up our revenue and net profit forecasts for FY2011E by 3.5% and 7.9% respectively.
"Although we hold a positive fundamental outlook on the company, we have a more conservative technical outlook on the market. Therefore we are keeping our target price unchanged at 75 cents. Our target price implies a 6.5x PE peg to FY2011E earnings. MAINTAIN BUY."
No comments:
Post a Comment