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<Research>G Sachs Initiates Buy Rating on FIRST TRACTOR (00038.HK), Expects Benefits from Agricultural Modernization
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Goldman Sachs recently released a research report initiating coverage on FIRST TRACTOR (00038.HK), with rating at Buy and a target price of $14. The broker believed that the Company is well-positioned to benefit from China's agricultural modernization and transformation, capitalizing on the structural growth opportunities in the industry through the upsizing of tractors and specification upgrades, as well as long-term export potential. Goldman Sachs anticipated that market share will continue to concentrate towards industry leaders like FIRST TRACTOR, which will also lead to a doubling of its EBIT profit margin over the next 5 years. Moreover, the broker predicted the proportion of revenue from export business to double by 2030. AASTOCKS Financial News Website: www.aastocks.com |
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