HK-listed tissue maker Vinda hits 1-1/2-year high, Nomura raises TP

Vinda International Holdings

19/07/2019 05:47

** Shares of tissue and personal care products maker Vinda
International Holdings Ltd  3331.HK  rise as much as 3.1% to
HK$16.16, highest since Jan 11, 2018 
    ** Nomura raises TP to HK$18.4 from HK$17.9 on expectation
of strong recovery in 2H19 margin with wood pulp downtrend
implying upside potential to the margin; maintains "buy"
    ** Nomura says Vinda has ample room to benefit from the
premiumisation trend in the personal care sector in China 
    ** As of Thursday's close, stock had risen 27.3% this year
    ** Vinda has outperformed the Hang Seng Commerce & Industry
Index sector  .HSNC  by 10.8 percentage points in the past month
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
rises 1.1%, and the Hang Seng sub-index tracking consumer goods
companies  .HSCICG  gains 0.9%
    ** The Hong Kong benchmark index  .HSI  climbs 1.1%

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