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Credit Suisse lifts Haier Electronics to HK$28
Credit Suisse lifted its target price for Haier
Electronics Group (01169) to HK$28 from HK$24, and maintained its "outperform" rating.
  The research house believes premiumisation will be the main growth driver in the home
appliances sector in the next few years, backed by both demand and supply.
  Together with its parent (QD Haier), Haier Electronics is well-positioned in the age of
premiumisation in terms of branding, technology, and channel, it added. Credit Suisse
expects its white goods business to achieve 15+% revenue growth and its gross margin to
resume improvement in 2018, driven by better a product-mix, after a slight drop in 2017.
  The stock is still a laggard as it went up only 14% in the past three months, compared 
with 31% for Midea and 26% for QD Haier, Credit Suisse noted. It raised its 2018/2019 EPS
by 2.2%/4.6%.

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