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Yunnan Energy New Material Offers Buying Opportunity -- Market Talk

Dow Jones Newswires ·  2021/10/26 22:02

0158 GMT - Yunnan Energy New Material may offer a buying opportunity, following a recent share price correction, Daiwa Capital says. The packaging materials company's profitability also looks set to improve, thanks to a strong volume shipment outlook for 2022, Daiwa reckons. The bank maintains its forecasts for Yunnan Energy's overall on-year volume shipment growth at 64% in 2022 and 52% in 2023 respectively. "We believe Yunnan will continue to gain market share over 2022-23 due to its ability to expand capacity in the face of the current equipment shortage industry wide," it says. Daiwa raises its target price to CNY401 from CNY397 and maintains a buy rating. Shares are 2.3% higher at CNY294.50. (justina.lee@wsj.com)

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