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M Stanley Believes CRRC TIMES ELEC Share Price to Outperform in Next 60 Days

 Morgan Stanley, in its tactical idea report, said it is 70-80% likely that the share price of CRRC TIMES ELEC (03898.HK)  +0.950 (+2.225%)    Short selling $22.03M; Ratio 15.151%   will outperform the peers in 60 days. The broker rated Overweight with target price of $56.

The company's share price has underperformed the HSCEI by 13% year-to-date, mainly due to the 5.5% core profit decline in 1H17. However, the broker expected the demand to recover in 2H17, supporting the company's net profit. Morgan Stanley forecasted 31% yearly growth in 2H17.

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