Plastic mould maker Haitian drops as brokers cut target price

Haitian International Holdings

23/08/2018 07:26

** Shares in Haitian International Holdings Ltd  1882.HK 
slide 6.22 pct to HK$ 16.28, set for its worst day in more than
a week, after some securities firms cut their price targets for
the plastic injection moulding machine manufacturer
    ** Morgan Stanley cuts target price for the China-based
plastic injection moulding machine maker to HK$27 from HK$32,
due to uncertainties over domestic growth and trading conditions
in the second half
    ** China International Capital Corporation Limited (CICC)
also cuts target price to HK$23.04, citing lowered profit
forecasts
    **  CICC lowers EPS forecast for the firm to 1.42 yuan from
1.5 yuan for 2018, to 1.58 yuan from 1.69 yuan for 2019,
considering the decline of its gross margin rate
    ** As of the previous close, the stock has fallen 26.13
percent so far this year
    ** Hong Kong benchmark index  .HSI  is down 0.36 pct

 ((Reuters Messaging: Cheng.Li.thomsonreuters.com@reuters.net))