Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research Report>BOCOMI Raises SINOTRUK TP to $26.49 as Results in Line, Div. Yield Further Rises
Recommend 4 Positive 6 Negative 13 |
||||
|
||||
|
SINOTRUK (03808.HK)'s 2023 revenue grew 43.9% YoY to RMB85.498 billion, BOCOMI said. Net profit attributable to parent company surged 217.9% YoY to RMB5.32 billion, 2% higher than the expectations of the market and BOCOMI. The increase is mainly due to the strong recovery of heavy truck sales in 2023, and the improvement in margins from scale effect. SINOTRUK declared an annual final dividend of RMB0.965 per share, with its dividend payout inclining from 46.2% in 2022 to 50.1% in 2023. BOCOMI slightly raised its 2024/2025 earnings forecasts. SINOTRUK, as the industry leader, will benefit from the recovery of heavy truck sales, and its market share is expected to increase further. BOCOMI raised its target price to $26.49, which is equivalent to 10x of the forecasted 2024 PE ratio. BOCOMI kept rating at Buy as the stock's current price is corresponding to a forecasted dividend yield of 5.3% for 2024. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
