Attractive share gain story
​We reiterate BUY on Nien Made with a raised TP of NT$315, now based on our 2017F forecasts. Nien Made’s outlook is still promising, given 1) the slowed pace of the Fed’s rate hikes; 2) strong home improvement retail sales in the US; 3) more share gains in the custom-made space; and 4) potential MSCI inclusion in May (May 12 announcement and index adjustment effective on June 1).
Nien Made Enterprise Co Ltd. Nien Made Enterprise Co., Ltd. is a Taiwan-based company principally engaged in the production and sales of curtains and curtain parts. The Company's main products include shutters, soft shades and blinds. The Company distributes its products in domestic market and to overseas markets, such as the Americas and Europe.
Yuanta is a Taiwan-headquartered brokerage with a growing presence in Asia, especially across Greater China. Our team of 140+ provides cutting-edge analysis on key sectors, spread across offices in Taiwan, Hong Kong, Shanghai (A-Share), Seoul and Jakarta. With an ever-expanding coverage universe of 400+ companies, we provide in depth analysis with unique local color to investors. Consistently being voted the Best Investment Consulting Firm in Taiwan in the AsiaMoney broker poll is evidence of our strength. We target providing an extensive range of research, from small, to mid-sized, to large cap. We bring you the big, well-covered names, as well as going off the beaten track to research the less-familiar companies.
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