crashteamracingnitrofueledyuzu| UBS: raises Zoomlion's target price to HK$6.2 and raises its earnings per share forecast for this year and next

UBS issued a report stating thatcrashteamracingnitrofueledyuzu, Zoomlion's earnings per share forecast for this year and next will be raised by 20% and 26%crashteamracingnitrofueledyuzuto reflect increased overseas sales and expansion of gross margin. Despite the company's strong earnings prospects, attractive dividend yields, and positive management guidance, considering that the company's share price has risen by more than 40% so far this year (compared with the industry's rise of more than 20%), it is estimated that the increase has reflected most of the positive factors, so it still maintains a "neutral" rating.

The bank expects Zoomlion's earnings per share to grow at an average annual compound growth rate of 33% from 2023 to 2025, which is higher than the peer average of less than 10%, and the company's current price is equivalent to a 2024 forecast P/E ratio of 10crashteamracingnitrofueledyuzu.3 times, and its target price is 4crashteamracingnitrofueledyuzu.1 HKD was raised to HKD 6.2.

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