Zoomlion Heavy's EPS Tipped to Rise on Stronger Demand, Lower Costs -- Market Talk

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Zoomlion Heavy's EPS Tipped to Rise on Stronger Demand, Lower Costs -- Market Talk

Dow Jones2023-04-04

0313 GMT - Zoomlion Heavy Industry's EPS are likely to rise in 2023, supported by lower costs and higher overseas demand, Daiwa Capital analysts Andy Li and Kelvin Lau say in a research note. The analysts expects the construction machinery's revenue from exports to double on year in 1Q thanks to demand in the Middle East, a market that accounted for 15% of Zoomlion's export revenue in 2022. "We lift our 2023E gross margin by 1.9pp to 26.2%, as we remain upbeat on its gross-margin improvement," they add. Daiwa maintains a buy rating on the company's H shares, but cuts the target price to HK$6.10 from HK$7.00 to factor in its 4Q margin decline. The stock is 0.7% higher at HK$4.28. (justina.lee@wsj.com)

(END) Dow Jones Newswires

April 03, 2023 23:13 ET (03:13 GMT)

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Daiwa maintains a buy rating on the company's H shares, but cuts the target price to HK$6.10 from HK$7.00 to factor in its 4Q margin decline. The stock is 0.7% higher at HK$4.28. 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