Daiwa Securities Upgrades Rating of Parent Company of Precision Tsugami (1651.HK) to "Outperform"
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Monday, September 6, 2021
HONG KONG, Sept 6, 2021 - (ACN Newswire) - Daiwa Securities, in its recently published research report, has upgraded the rating for the parent company of Precision Tsugami (China) Corporation Limited ("Precision Tsugami" or the "Company", stock code: 1651), which is the largest foreign-owned CNC high-precision machine tool manufacturer in the PRC .
Key Points:
- HONG KONG, Sept 6, 2021 - (ACN Newswire) - Daiwa Securities, in its recently published research report, has upgraded the rating for the parent company of Precision Tsugami (China) Corporation Limited ("Precision Tsugami" or the "Company", stock code: 1651), which is the largest foreign-owned CNC high-precision machine tool manufacturer in the PRC .
- The "Outperform" rating was given to the firm as Daiwa Securities was particularly optimistic about Precision Tsugami's strong business foundation in the PRC, and the higher-than-expected number of orders received in July.
- In the report, Daiwa Securities noted that Precision Tsugami brought a new plant on stream in Anhui Province, the PRC, in March 2021, thus increasing total production capacity by just above 15%.
- In view of the higher-than-expected number of orders in July, Daiwa Securities raised its revenue forecast for the parent company of Precision Tsugami.