HK-listed tissue maker Vinda at near 4-1/2-year high, brokers lift target price

Vinda International Holdings

23/01/2020 02:41

** Shares of China's tissue and personal care products maker
Vinda International Holdings Ltd  3331.HK  rise as much as 8.2%
to HK$17.96, the highest since August 2015
    ** Stock is on track for the biggest daily percentage gain
since July 2019 
    ** Brokerage Daiwa upgrades Vinda to "buy" from "outperform"
and lifts target price to HK$20.3 from HK$18, saying it expects
the firm's earnings growth to gradually normalise, and is a
beneficiary of lower pulp costs and change in product mix
    ** Nomura raises target price to HK$21.9 from HK$18.4,
saying Vinda is a preferred pick in China personal care space
    ** Vinda, which reported a 75.3% jump in 2019 profit, has
outperformed the Hang Seng Commerce & Industry Index sector
 .HSNC  by 9.7 percentage points in the past one month
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
falls 1.1%
    ** The Hang Seng China enterprises index  .HSCE  declines
1.2%, and the benchmark index  .HSI  slides 0.9%

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