DJ Anker Innovations Technology's Margins Seen Weighed by Higher Costs Near Term -- Market Talk
0143 GMT - Anker Innovations Technology's operating margin is likely to be pressured by rising raw material prices, shipping delays and factory disruptions in Vietnam, Daiwa Capital says. It lowers its 2021-2023 core earning's forecasts for the electronics company by 2%-8%, to factor in longer-than-expected margin pressure. Daiwa also cuts the stock's target price to CNY135 from CNY150, but maintains a buy rating as it expects Anker's long-term growth prospects to remain intact. "We continue to view the intelligent innovative products segment as the biggest driver for Anker's long-term growth," it adds. Shares last closed at CNY107.07 on Thursday. Markets in China are closed for the National Day holidays. (justina.lee@wsj.com)
(END) Dow Jones Newswires
October 04, 2021 21:43 ET (01:43 GMT)
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