Citi: Initiates coverage on SANY INT'L with a target price of HKD 11 and a rating of "Outperform"
Citi released a research report stating that it has set an initial target price of HKD 11 for SANY INT'L and rated it as outperforming the market. The bank expects the company's earnings to reach RMB 2.5 billion in 2025, growing at a compound annual growth rate (CAGR) of 54% to RMB 4 billion by 2027, with the CAGR for trucks and port equipment reaching 30% and 25%, respectively. The bank noted that SANY INT'L focuses on the mining and port equipment industry. It observed that the trend towards electrification, along with breakthroughs in hybrid technology for electric mining trucks, is driving mining companies to seek new truck suppliers due to significant advantages in fuel efficiency and maintenance requirements. In terms of port business, the post-pandemic recovery of global trade and supply chain disruptions have pushed the company's book-to-bill ratio to record highs
According to the Zhitong Finance APP, Credit Lyonnais has released a research report stating that it has set an initial target price of HKD 11 for SANY INT'L (00631) and rated it as outperforming the market. The bank expects the company's earnings to reach RMB 2.5 billion in 2025, growing at a compound annual growth rate of 54% to RMB 4 billion by 2027, with the compound annual growth rates for trucks and port equipment reaching 30% and 25%, respectively.
The bank pointed out that SANY INT'L focuses on the mining and port equipment industry. It noted that the trend towards electrification, along with breakthroughs in hybrid technology for electric mining trucks, is driving mining companies to seek new truck suppliers due to significant advantages in fuel efficiency and maintenance requirements. In terms of port business, the recovery of global trade post-pandemic and supply chain disruptions have pushed the company's order-to-shipment ratio (Book-to-bill Ratio) to a record high
