Stock Name: China XLX
Company Name: CHINA XLX FERTILISER LTD.
Company Name: CHINA XLX FERTILISER LTD.
| Research House: CIMB | Price Call: BUY | Target Price: 0.43 |
CIMB Research has upgraded Singapore-listed Chinese fertilizer producer China XLX Fertiliser (CXLX.SI) to ’outperform’ from ’trading buy’ and raised its target price to $0.43 from $0.39.
A US$51 million ($66.3 million) investment from Primavera Capital will boost China XLX’s financial flexibility, CIMB said, adding that the combination of Primavera’s experience in capital markets and China XLX’s strengths in operations can help the firm grow its business.
A US$51 million ($66.3 million) investment from Primavera Capital will boost China XLX’s financial flexibility, CIMB said, adding that the combination of Primavera’s experience in capital markets and China XLX’s strengths in operations can help the firm grow its business.
China XLX is likely to benefit from the Chinese government’s efforts to consolidate the country’s urea industry aimed at reducing inefficient production capacity, improving the competitiveness of domestic producers as well as decreasing emissions and energy consumption, CIMB said.
Easing coal prices will also provide cost relief to China XLX, CIMB added. China XLX stock has fallen around 45% so far this year.
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