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Estun Automation Rides Rise in Demand for Industrial Robots -- Market Talk

Dow Jones Newswires ·  Nov 29, 2021 00:32

0521 GMT - Estun Automation is likely to gain from growing demand for automation, Daiwa Capital says. The Japanese bank initiates coverage on the stock with an outperform rating and a CNY32 target price. Continued market-share gains in industrial robots, margin growth and easing raw material costs could help drive Estun's adjusted net profit growth in 2022, Daiwa says. The company's industrial-robot segment could grow at a 38% CAGR in revenue over 2020-23, as it is one of the few companies globally with strong core technology needed to produce industrial robots, Daiwa adds. Shares are 1.1% lower at NY28.13. (justina.lee@wsj.com)

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