DJ Best Pacific's Stock Bounce Not Done Yet -- Market Talk
0404 GMT - Those missing out so far on the post-earning jump in clothing maker Best Pacific don't need to fret, says Nomura. While turning bullish on the stock, the investment bank's target soars 71% to HK$3.60--17% above current levels even with shares having jumped 19% since Wednesday night's earning release. Nomura raises its earning views some 10% through 2020 on better-than-anticipated revenue growth. Ongoing bull Daiwa, meanwhile, says the company's latest results "finally" showed signs of a turnaround. Lingerie was key, it notes. But the bank cautions that 2019 is still "a transition year" as new facilities open up. Best Pacific shares sunk 59% last year, but have rebounded 50% in 1Q. (kevin.kingsbury@wsj.com; @kevinkingsbury)
(END) Dow Jones Newswires
March 22, 2019 00:04 ET (04:04 GMT)
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