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Chinasoft International's Expansion Into Cloud Business Looks Promising -- Market Talk

Dow Jones Newswires · Mar 29, 2021 22:46

CHINASOFT INT'L -2.00%

DJ Chinasoft International's Expansion Into Cloud Business Looks Promising -- Market Talk

0246 GMT - Chinasoft International's solid expansion into the booming cloud business will likely underpin a promising growth outlook for the software developer, Citi says. The bank keeps its buy rating with an unchanged target price of HK$10.00. Chinasoft delivered a 26% profit growth in 2020, mainly driven by surging income from its cloud solution products. Citi is positive on Chinasoft's increasing shift toward the fast-growing cloud industry, which would offer more growth opportunities than its traditional software business. The stock's valuation also looks undemanding and attractive, Citi adds. Shares are up 4.4% at HK$7.87. (yifan.wang@wsj.com)

(END) Dow Jones Newswires

March 29, 2021 22:46 ET (02:46 GMT)

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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