HK-listed moulding machines maker Haitian at 10-month high, Goldman upgrades

Haitian International Holdings

25/04/2019 08:15

** Shares of moulding machines maker Haitian International
Holdings Ltd  1882.HK  surge as much as 16.2 pct to HK$21.50,
the highest since June 14, 2018
    ** Stock ranks the 7th biggest percentage gainer in late
afternoon trade
    ** Goldman Sachs upgrades Haitian to "buy" from "neutral"
with a target price at HK$24 each, saying the firm's growth in
new orders could accelerate in coming quarters amid signs of an
industry bottom 
    ** Goldman also says launch of 3rd generation machines shall
drive faster sales growth, while rising penetration of electric
series and milder steel prices will stabilise margins in 2019 
    ** As of last close, the stock of the Zhejiang-based company
had risen 22.52 percent so far this year
    ** Haitian has outperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 6.1 percentage points in the
past one month
    ** The Hang Seng China enterprises index  .HSCE  falls 1.1
pct, while the benchmark index  .HSI  slides 0.5 pct

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)