Faith glass (00868.HK)
Ideal of automobile glass growth is maintained buy grade
Company total turnover grows 53.9 ％ to come 1.88 billion HK dollar, automobile glass grows ideal, and those who make the market open-eyed is, the flying growth of glass of its float law, although build vitreous turnover to grow to have 24.2 ％ only, but in global real estate the premise of market depression falls, we feel to have such growth already was commendable.
But fall in current background, we still reduced the target price of the company, the reason has 3: 1, wool interest rate is cut ascend a top in heavy oil and in pairs of soda ash price appear this year without can avoid; 2, the turnover that builds glass is affected probably continuously by the depression of global building city; 3, indebted rate will be climbed with in the future this year litre, we reduce target city to be filled with rate, by before 12.5 times fall to 10.5 times. Although such, we still maintain faith to buy grade, target price falls to 7.43 HK dollar, and meanwhile, we comparative value a company inviting dividend income and its advocate the healthy growth of glass of automobile of course of study.
