Paper products firm Vinda hits 5-1/2-month high as brokers raise target price

Vinda International Holdings

01/02/2019 03:22

** Shares of household paper and personal care products
maker Vinda International Holdings Ltd  3331.HK  rise as much as
3.1 pct to HK$14.10, the highest since Aug. 13 after brokers
raise target price
    ** Daiwa maintains "outperform" rating on Vinda, and raises
target price to HK$14.80 from HK$12.70, saying it expects wood
pulp cost to decline by about 10 pct in 2019 with higher sales
in personal care product 
    ** Nomura also raises Vinda's target price to HK$16.5 from
HK$15, on expectation of better gross profit margin for 2019   
    ** Vinda has outperformed the Hang Seng Commerce & Industry
Index sector  .HSNC  by 2.0 percentage points in the past one
month
    ** The Hong Kong Hang Seng sub-index tracking consumer goods
companies  .HSCICG  climbs 0.98 pct, and the Hang Seng China
enterprises index  .HSCE  gains 0.3 pct

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