Shares of SANY INT'L (00631.HK), a leading Chinese construction equipment manufacturer, soared 5.23% on Thursday, closing at HK$4.37. The stock's rally was likely driven by a bullish analyst report from CICC.
In a research note published on Thursday morning, CICC initiated coverage on SANY INT'L with an Outperform rating and a price target of HK$5.70, implying a potential upside of around 30% from the stock's previous closing price.
The positive outlook from CICC suggests that analysts are optimistic about SANY INT'L's growth prospects, possibly driven by factors such as robust demand for construction equipment in China's infrastructure and real estate sectors, as well as the company's strong market position and product portfolio.
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