CGS International has released its latest equity research report, highlighting significant changes in recommendations and target prices for various companies across the Asia Pacific region. Notably, Breville Group has been upgraded from ‘Sell’ to ‘Hold’, with a revised target price of AUD28.50, reflecting a more optimistic outlook as of 15 April. Meanwhile, ISOTeam Ltd is expected to benefit from the introduction of autonomous painting drones, maintaining an ‘Add’ recommendation with a target price of SGD0.096.
The report also details target price adjustments for several companies. Brazilian Rare Earths Limited has seen its target price rise to AUD4.45, driven by a bauxite deal that is expected to unlock hidden value. In contrast, CATL’s target price has been adjusted to CNY301.00, with the company remaining positive on its European prospects despite limited impact from US tariffs.
In Hong Kong, Huitongda is anticipated to experience a business turnaround in the fiscal year 2025, with a revised target price of HKD15.20. Medy-Tox in South Korea is showing signs of recovery, leading to an increased target price of KRW210,000.00. However, Shinsegae International continues to face a challenging operating climate, resulting in a lowered target price of KRW10,000.00.
Sector notes include a positive outlook for Chinese banks, with an ‘Overweight’ recommendation, suggesting investors should focus on eastern markets. Additionally, Alibaba Group’s cloud revenue is projected to grow, maintaining an ‘Add’ recommendation with a target price of HKD170.00.
These updates reflect CGS International’s ongoing analysis of market dynamics and company performance, providing investors with insights into potential opportunities and risks.
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