Chinese napkin maker Hengan touches 5-mth high, broker lifts price target

Hengan International

20/03/2019 04:09

** Shares of personal hygiene products maker Hengan
International Group Co Ltd  1044.HK  rise as much as 4.1 pct to
HK$67.80, their highest since Oct. 11, 2018
    ** The sanitary napkin and diapers maker says posts 13.5 pct
rise in 2018 revenue to 20.5 bln yuan ($3.05 bln), while net
profit increases 0.2 pct to 3.8 bln yuan  urn:newsml:reuters.com:*:nFWN21512M
    ** The Fujian-based company says it will continue to promote
the Hengan brand to the overseas markets
    ** Daiwa maintains "buy" on the stock and raises target
price to HK$79.30 from HK$74.50, saying Hengan's 2019 earnings
likely to benefit from declining wood pulp prices 
    ** As of last close, the stock had risen 14.3 pct so far
this year
    ** Hengan has underperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 0.6 percentage points in the
past one month
    ** The Hong Kong Hang Seng sub-index tracking consumer goods
companies  .HSCICG  eases 0.8 pct, and the Hang Seng China
enterprises index  .HSCE  slides 0.5 pct



($1 = 6.7134 Chinese yuan renminbi)

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