The analysts point to “solid” results despite some moderation in average selling price (ASP).
A strong set of results for 2QFY2022 ended June, coupled with record gross profit margin, puts Jiutian Chemical in good stead in the coming months, say CGS-CIMB Research analysts Kenneth Tan and Ong Khang Chuen.
In an Aug 11 note, Tan and Ong are maintaining “add” on Jiutian with a raised target price of 18 cents from 17 cents previously. The new target price represents an 87.5% upside for the counter.
