Date: 21 April 2005
Zhejiang Glass' (0739.HK) FY05 EPS may rise 38.4% to 49 HK cents with opening of an upstream soda ash plant in June, says South Ocean Management's fund manager Brook McConnell; "it's got a great shot at making gigantic earnings".
Stock up 2.4% at HK$2.15 but trading at low prospective P/E of 4.4X. McConnell has target price of HK$5, higher than HK$4.20 set by Kingsway analyst Kelvin Cheng. Cheng says key risk is execution of soda ash plant in Qindao but short supply of commodity means margins of up to 50% possible.
600450
Newratings.com
2005-04-21T13:00:00
South Ocean Mgmt,Kingsway Like Zhejiang Glass
glassonweb.com
Add new comment