DJ Chinasoft International May Be Supported by Emerging Cloud Business -- Market Talk
0205 GMT - Chinasoft International's earnings may rise, thanks to a strong growth outlook led by its emerging cloud business, Citi Research says. The IT solutions services provider expects its cloud-intelligence business to account for 40% of total revenue in 2023, Citi notes. Chinasoft's expansion of IT services may also be a potential earnings growth driver. "We believe the company will enjoy strong secular growth, benefiting from China's digitalization trend." Citi raises the stock's target price to HK$10.50 from HK$10.00 and maintains a buy rating. Shares are 1.1% lower at HK$8.34.(justina.lee@wsj.com)
(END) Dow Jones Newswires
April 06, 2021 22:05 ET (02:05 GMT)
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