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With a more favourable environment, CHENG SHIN RUB IND improves to Sli...
CHENG SHIN RUB IND (TW), a company active in the Tires industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 4 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date April 5, 2022, the closing price was TWD 35.90 and its potential was es...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
2Q16 GM beat; recovery story intact
​Reiterate BUY and lift TP to NT$78: As we doubt the sustainability of rising raw material prices given the lack of strong demand, unlike the Street, we believe GM could remain at 31%+ in 2016/17F. With shipment growth and gradually stabilizing tire prices, we believe the long-awaited recovery will not be short-lived and expect 18%/11% YoY earnings growth in 2016/17F. We reiterate BUY and lift our TP to NT$78 based on 15x 2017F EPS, rolling over to 2017F EPS (vs. 17x 2016F EPS previously).
A long-awaited recovery - 2105 TT; BUY
​We transfer coverage with a BUY rating and TP of NT$76 based on 17x2016F EPS; the recovering China PV/CV market will support shipment growth. With stabilizing tire prices and stronger shipments, we expect CSR’s earnings to recover after two consecutive years of double-digit earnings declines. As the ninth biggest tire maker, CSR has a much larger scale, and healthier balance sheet vs. global peers’ 52%, and rising OEM contribution. Therefore, we believe it will benefit from industry conso...
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