标题：Zhengbang TechnologyAnticipating further capacity expansion
发布日期：2016-03-07 7:15:48
内容： Private placement mainly targets expansion of the hog breedingcapacity and construction of the breeding technological service stations Breeding business gains traction Rising hog prices and declining raw material cost benefit all businesses along the husbandry industry chain. The Company has been promoting transformation to a modern agricultural service supplier Risks: Epidemics, low hog prices; and sharp swing in raw material prices. BUY reiterated. Considering declining raw material cost and surging hog prices, we slightly raiseestimates of the Company’s 2015~17E EPS to Rmb0.47/1.20/1.10 from Rmb0.46/1.01/1.10, and believe the Company deserves 25x 2016E PE, equivalent to a TP of Rmb30. Our BUY rating remains intact
发布日期：2016-03-07 7:15:48
内容： Private placement mainly targets expansion of the hog breedingcapacity and construction of the breeding technological service stations Breeding business gains traction Rising hog prices and declining raw material cost benefit all businesses along the husbandry industry chain. The Company has been promoting transformation to a modern agricultural service supplier Risks: Epidemics, low hog prices; and sharp swing in raw material prices. BUY reiterated. Considering declining raw material cost and surging hog prices, we slightly raiseestimates of the Company’s 2015~17E EPS to Rmb0.47/1.20/1.10 from Rmb0.46/1.01/1.10, and believe the Company deserves 25x 2016E PE, equivalent to a TP of Rmb30. Our BUY rating remains intact
