CGSI Reiterates “Buy” Rating on Modern Dental (03600HK), Ups Target Price to HK$5.88
Retrieved on:
Wednesday, April 10, 2024
In a recent report by CGS International, they have reaffirmed the “Buy” rating on Modern Dental (03600HK), raised the target price to HK$5.88.
Key Points:
- In a recent report by CGS International, they have reaffirmed the “Buy” rating on Modern Dental (03600HK), raised the target price to HK$5.88.
- Modern Dental increased its production capacity by over 50% in FY22-23 by expanding capacity of its Dongguan laboratory and setting up new facilities in Vietnam.
- Due to enhanced production capability, CGSI believes Modern Dental should improve production efficiency and decrease product costs in FY24F.
- The target price increased to HK$5.88 based on 10x CY25F P/E, reiterated “Add” on Modern Dental.