HK lingerie firm Regina Miracle falls, Daiwa downgrades

Regina Miracle International (Holdings)

28/11/2018 05:04

** Shares of bra and sportswear manufacturer Regina Miracle
International (Holdings) Ltd  2199.HK  fall 3.6 pct to HK$5.28,
lowest since Nov. 19, and are on track for its 4th session of
decline
    ** Daiwa downgrades to "hold" from "outperform" and trims
target price to HK$5.50 from HK$5.60, saying it revises down its
FY19-21 earnings estimate due to milder sales outlook
    ** Daiwa sees orders from U.S. designer of women's lingerie
Victoria's Secret to fall by a high-single-digit percentage year
on year in FY19, while Regina Miracle's valuation is among the
highest in the regional textile sector
    ** Regina Miracle posts a 39.9 pct rise in H1 profit and
says it will shift production capacity to Vietnam from Shenzhen
to capture international brand partners' growing demand for
Vietnamese production bases  urn:newsml:reuters.com:*:nFWN1XZ01H
    ** As of the last close, the stock has fallen 28.8 pct so
far this year
    ** Regina Miracle has outperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 31.3 percentage points in the
past month

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