DJ Texhong Textile Shares Likely Already Priced in Most Positives -- Market Talk
0731 GMT - Texhong Textile Group's earnings have improved since 2H 2020, which may mean that most of its businesses are now performing close to pre-pandemic levels, Daiwa Capital says. The textile group's profit margins are also improving after cotton prices recorded one of the strongest 6-month rallies in recent history. However, the uptrend in cotton prices have been slowing since late February, Daiwa notes. It is likely that most of the positives have been priced into Texhong's shares, which are up 95% year to date, Daiwa says. It cuts the stock's rating to outperform from buy and raises target price to HK$15.00 from HK$7.80. Shares are 3.6% lower at HK$12.98. (yiwei.wong@wsj.com)
(END) Dow Jones Newswires
March 19, 2021 03:31 ET (07:31 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
DJ Texhong Texture股票可能已經計入了大部分利好因素--市場談話
0731GMT-大和資本稱，自2020年下半年以來，德宏紡織集團的盈利有所改善，這可能意味着其多數業務目前的表現接近疫情爆發前的水平。在棉花價格錄得近代史上最強勁的6個月漲勢之一後，這家紡織集團的利潤率也在改善。然而，大和指出，自2月下旬以來，棉花價格的上漲趨勢一直在放緩。大和説，大部分利好因素很可能已經反映在德宏的股價中，今年到目前為止，德宏的股價已經上漲了95%。該公司將該股評級從買入下調至表現優於大盤，並將目標價從7.80港元上調至15.00港元。該公司股價下跌3.6%，至12.98港元。(yi wei.wong@wsj.com)
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2021年3月19日東部時間03：31(格林尼治標準時間07：31)
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