DJ Hanwell's Earnings From Paper Packaging Business Expected to Rise -- Market Talk
0609 GMT - Consumer goods company Hanwell may gain higher earnings contributions from its paper packaging business, driven by current strong demand in the global logistics sector, KGI Securities says. Demand for corrugated cardboard boxes is expected to increase, thanks to a growing e-commerce sector and increased need for storage materials, KGI says. Buoyant demand for consumer goods will also be beneficial for the company, KGI says, noting the company's plans to expand its consumer goods offerings by 30% in the next three to five years. The brokerage initiates coverage on the stock with a neutral rating and a S$0.42 target price. Shares are 1.3% higher at S$0.40. (justina.lee@wsj.com)
(END) Dow Jones Newswires
October 05, 2021 02:09 ET (06:09 GMT)
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