Tianjin Zhongxin - Discount To A-Share Too High To Ignore | I3investor

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Tianjin Zhongxin - Discount To A-Share Too High To Ignore

StockFanatic

Publish date: Mon, 21 May 2018, 11:42 AM

The spread between TJZX's China A-shares and SGX S-shares continues to widen and we believe the current 60.8% discount (wider than its five-year average) is too high to ignore. Management sees 2018 as the start of "multiple times of growth in three years" and we believe this is realistic in view of: a) the favourable industry outlook, b) ongoing price hike of its key drug, and c) fresh initiatives by the new management team. Maintain BUY with PE-based target price of US$1.72 unchanged.

TJ DaRenTang USD (T14)

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